Gordon Brothers buys Laura Ashley brand and archives
Gordon Brothers has bought the Laura Ashley brand out of administration, however the future of its 147 high street stores is still undecided.
The clothing and home retailer’s archives and intellectual property were also included in the deal, the US advisory firm announced today.
Gordon Brothers said it will partner with the existing management team to work on “several go-to-market” strategies, which “could include retaining a streamlined portfolio of retail stores” in UK and Ireland locations.
All of Laura Ashley’s high street stores are currently closed and 1,700 staff have been furloughed due to the coronavirus lockdown. Administrator PwC said it had “engaged with interested parties during this time with the aim of securing a buyer.”
The firm said it will build the retailer’s e-commerce offering, develop more strategic relationships and expand its portfolio of licensees and franchisees globally.
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.”
PwC is still trading the company’s online business and is preparing the stores to reopen when the government relaxes lockdown restrictions as it continues to seek a buyer for the UK operations.
Rob Lewis, joint administrator and PwC partner, said: “We are extremely pleased to have secured a sale of the brand, which is a testament to the strength and world wide recognition of the Laura Ashley name.
“We are continuing to support employees and work with the management team and interested parties to secure a future for the UK operations.”