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Laura Ashley's jobs and operations could be saved

 
Created on 20/05/2020 @ 16:17
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Laura Ashley's Newtown operations could be saved by its Chief Executive who is attempting to raise between £5-£10million to acquire the retailer's UK operation from administrators PwC.

It has emerged that Katharine Poulter, who joined the company in January before it went into administration, is heading the fundraising.

The deal would see a new company formed which would focus on the online business.

The brand Laura Ashley was sold last month to a US private equity company.

It is understood Ms Poulter's deal would also take on some retail sites from the Laura Ashley portfolio in the UK and Republic of Ireland.

Originally from Northern Ireland, Ms Poulter was educated at Cardiff University.

It is understood if the deal goes through the Newtown operation would be a central focus for the business.

It has been reported that jobs would be saved and more could be created.

The company's Texplan site employs around 170 people. Some of these furloughed staff have returned to work to manufacture PPE equipment during the current COVID-19 situation.

 

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