Laura Ashley goes into administration

Laura Ashley, the fashion and furnishings empire that began life in Carno and Newtown, has filed for administration.

The company, which had been seeking funding, has its accounts, sales and warehouse in Newtown, in addition to the Texplan operation, employing hundreds in Newtown.

The company had said it needed £15 million in emergency cash.

PwC has been appointed administrator in an attempt to save the company.