Clothing and furnishing retailer Laura Ashley said on Monday its main banking le...
) said on Monday its main banking lender and majority shareholder were in talks regarding the company’s immediate funding needs, as it reported a drop in half-year revenue.
The fashion house, a favourite of Princess Diana in its 1980s heyday, is the latest victim of a troubled couple of years for British retailers, its sales hit by store closures, weakness in its home furnishings business and a worsening consumer mood. The lender provided an asset-based loan of 20 million pounds to Laura Ashley last year, using the company’s assets as collateral.
Laura Ashley’s total group sales fell 10.8% to 109.6 million pounds in the six months ended Dec. 31. It said sales were flat for the first seven weeks this year.Chairman Andrew Khoo said that recent trading conditions had been challenging but that there was a robust plan in place to turn the business around.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Laura Whitmore hints Love Island won't be axed as 'outside world' is the problemThe current Love Island presenter shared an emotional statement live on air this morning - where she defended pal Caroline's love for the ITV show
Read more »
Laura Whitmore breaks down talking about pal Caroline Flack who loved to loveCurrent Love Island host Laura Whitmore also defended the show, saying it wasn't ITV's fault but the outside world
Read more »
John Oliver Gives Laura Ingraham Credit For Seeing William Barr-Donald Trump “Rift” As A RuseJohn Oliver opened his seventh season of HBO’s Last Week Tonight by taking aim at the media hyping a potential rift between William Barr and Donald Trump, after the attorney general complaine…
Read more »
Affordable Dupes For Laura Mercier’s Legendary Translucent Setting PowderThese products are just like Laura Mercier’s Translucent Setting Powder, without the price tag.
Read more »