Laura Ashley brand rescued by Gordon Brothers

Gordon Brothers said it would work with Laura Ashley’s existing management to “evaluate several go-to-market strategies” for the business.

The firm said it could maintain “a streamlined portfolio” of stores in the UK and Ireland but will place “strong emphasis” on building Laura Ashley’s ecommerce operations.

It also plans to develop more wholesale partnerships and strike more deals with licensees and franchisees across the globe.

Laura Ashley’s existing partnerships have allowed it to expand into overseas markets including the USA, Japan and South Korea.

The fashion and homewares business went into administration a month ago, blaming the impact of coronavirus, which has decimated its sales.

PwC joint administrators Robert Lewis and Zelf Hussain have since made 268 staff across head office and back-office roles redundant and furloughed a further 1,669 store employees.

The retailer has continued to trade online during the pandemic.

Gordon Brothers president of brands Ramez Toubassy said: “Laura Ashley is a true giant among British lifestyle brands, possessing a unique ability to span geographies, product categories and price points.

“We feel humbled and inspired by the responsibility to reignite Mrs Ashley’s original vision while delivering unique and contemporary products to both long-time followers and new customers from around the world.”

Lewis added: “Throughout this process, Gordon Brothers has shown a passion for the Laura Ashley brand and I am delighted that under their ownership there will be a real opportunity to grow its profile worldwide.

“While we have taken an important step forward in securing the sale of the brand, we continue to explore opportunities to reshape the UK store-based retail and manufacturing businesses and are very grateful for the efforts of the entire team at Laura Ashley in helping us with those discussions.”