WOMEN’S fashion institution and homeware retailer Laura Ashley is the latest high street chain to collapse.
The chain, which has stores in Stratford and Leamington town centres, has ceased trading amid the coronavirus outbreak which it says had ‘an immediate and significant impact on trading’.
Following a £4million sales slump, the struggling brand had already undergone an emergency funding deal last month to keep it afloat.
It had been in talks with its lenders for further funds to continue trading.
But based on cashflow forecasts and virus uncertainty it said it would not get the money in time, and consequently, the company has filed for administration.
It is thought around 2,700 jobs are at risk.
