Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Gordon Brothers buys Laura Ashley brand

Global advisory, restructuring and investment firm Gordon Brothers has rescued Laura Ashley from administration. 

Gordon Brothers has acquired the global brand, its archives and related intellectual property from administration. It intends to “place a strong emphasis on building ecommerce, developing more strategic wholesale relationships, and expanding the portfolio of licensees and franchisees globally.” 

However, the new owner is also considering options such as retaining a streamlined portfolio of retail stores within the UK and Ireland. 

Laura Ashley filed to appoint advisory firm PwC as administrators in March, after failing to secure an emergency funding lifeline amid coronavirus trading concerns. 

“Whilst 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,” said Rob Lewis, joint administrator of several of the Laura Ashley group companies in the UK. 

Ramez Toubassy, president of brands for Gordon Brothers. 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.”

It comes as the US-based investment firm sold Bench to the British streetwear brand’s primary European licensee, Wraith, for all territories outside of the Americas last week. 

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.