History is repeating itself for the current owners of Laura Ashleys Australian business.
After acquiring the fashion and home furniture company in 2016, when then-directorDaryl Chait appointed administrators,the current owners have once again placed the brand into voluntary administration after finding the capital required to revive the brand too burdensome, according to a statement from administrators Craig Shepard and Leanne Chesser of KordaMentha Restructuring.
The business has been hurt by the same factors affecting many other fashion retailers a becalmed retail environment, rising fixed costs and fierce competition from online retailers, Shepard said.
The capital requirements to revive and grow the business became too burdensom…
Read the full article at: https://www.insideretail.com.au/news/laura-ashley-in-administration-once-again-201812