Administrators from FTI Consulting were appointed on January 7 to restructure the business, which has been trading in Australia since 1971 under a license agreement from Laura Ashley UK.
Administrators from FTI Consulting said seven Laura Ashley stores were closed, impacting 17 employees, last month. A further five stores were shuttered last week and 25 employees lost their jobs.
“The administrators continue to restructure the operations of Laura Ashley as we pursue the sale of the company as a going concern,” said administrator, Ross Blakeley.
“There are still 25 stores continuing to trade around Australia and we are working closely with a number of interested parties with respect to the potential sale of the business.”
Closed Laura Ashley locations:
Fountain Gate, VIC
Elizabeth Street, VIC
Subscriber content: Expressions of interest or mere tyrekickers?
Want more Inside Retail? Subscribe to Inside Retail Weekly now and get our premium print publication delivered to your door every week.