Laura Ashley to close its doors, no buyer found following collapse

Laura Ashley stores are set to close by the end of the year after the collapsed chain failed to find a buyer.

Laura Ashley vintage games

Another Australian retailer has bitten the dust with Laura Ashley stores to close by the end of the month after the collapsed chain failed to find a buyer that could rescue the group from liquidation.

It will see 100 jobs gone.

Administrator Craig Shepard said today no buyer stepped forward for the fashion and housewares chain, which only a few weeks ago collapsed for the second time in a number of years.

“Despite a number of parties engaging in an expression of interest process, there was no offer for the business as a going concern.”

There were 17 Laura Ashley stores in all States and the ACT. Since the group went into voluntary administration on December 3, the Brisbane store has been closed and the online store shut down.

Mr Shepard said the Administrators would now focus on an orderly closure of the remaining 16 stores in the next two weeks. All stock will be priced to clear.

“Laura Ashley customers are invited to shop for a Christmas bargain. We thank all the loyal staff for their support of the brand during the administration,” Mr Shepard said.

Laura Ashley has 100 employees in Australia. It operates under a licence from the UK Laura Ashley business, which is not affected by the Australian administration.

Mr Shepard said the business has been hurt by the same factors affecting many other fashion retailers — a soft retail environment, rising fixed costs and competition from online retailers.

Laura Ashley was introduced in Australia more than 35 years ago. It was formed in England in 1953 when Laura and Bernard Ashley started printing fabric on their kitchen table after visiting a craft exhibition at the Victoria and Albert Museum.

On vacation in Italy in 1952, the iconic film Roman Holiday was released and Audrey Hepburn’s headscarves became a fashion trend that inspired them. They began producing scarfs, then tea towels and placemats. The brand has maintained its classic English look.

At its peak in Australia, Laura Ashley had more than 45 stores.

It was only recently that Roger David, once a powerhouse in menswear also failed and closed its doors for good, with other retailers such as Toys R Us, Rhodes & Beckett, Marcs, David Lawrence, Oroton and Maggie T lurching into voluntary administration in the midst of some of the toughest retail conditions in decades.