XII I II III IIII V VI VII VIII IX X XI

Harlow’s Laura Ashley store faces uncertain future

Business / Tue 18th Dec 2018 at 01:05pm

FASHION and home furnishings retailer Laura Ashley will close about 40 stores in the UK as it plans to expand its presence in China.

Laura Ashley, which is owned by Malayan United Industries (MUI), has already closed some 40 UK stores since 2015.

There is a Laura Ashley store in the Queensgate Centre on Edinburgh Way.

High Street stores in the UK have had a difficult year as consumer confidence wanes and fewer shoppers visit.

A recent report has shown that some 14 shops are closing every day in the UK amid the tough trading climate.

Andrew Khoo Boo Yeow, MUI’s newly appointed executive chairman, told reporters in Malaysia earlier this month that he expected the business to see some tough headwinds across the next two years.

He also said MUI would be restructuring some arms of its business and rationalising assets.

Mr Khoo told the Press Association that the number of UK stores would be reduced from 160 to 120, but that the remaining stores would be expanded.

Print Friendly, PDF & Email

No Comments for Harlow’s Laura Ashley store faces uncertain future:

Leave a Comment Below:

Your email address will not be published. Required fields are marked *