Laura Ashley to close all Australian stores this month
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British clothing and homeware brand Laura Ashley is set to close all of its Australian stores by the end of the year following a failed buyer hunt by administrators, according to the Sydney Morning Herald.
The news comes in the same week that Laura Ashley announced it would be closing some 40 of its UK stores and shifting its focus to the Chinese market.
Commenting on the closure of the Australian stores in a statement, administrator Craig Shepard said: “Despite a number of parties engaging in an expression of interest process, there was no offer for the business as a going concern.”
Earlier this month Laura Ashley Australia announced it had fallen into administration three years after it left the previous administrators’ hands.
Photo credit:Laura Ashley, Facebook