New chairman wants fewer but larger stores in UK and is keen to expand presence in China
Laura Ashley is to close 40 stores, representing a quarter of its UK outlets, in a move that puts hundreds of jobs at risk.
The company’s new chairman, Andrew Khoo, who took on the role from his father last week, said the stores were closing amid a “challenging environment” in the UK that had hit sales of expensive products such as furniture.
Khoo told the Press Association that he wanted fewer but larger stores in the UK and was also keen to expand Laura Ashley’s presence in China .
Laura Ashley, which is known for its floral prints, is the latest chain to announce store closures amid tough times on UK high streets.
