Monday , October 25 2021

Laura Ashley to close 40 stores in the UK


Laura Ashley Store, Truro, Cornwall, United KingdomImage copyright
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Image caption

Originally from Wales, Laura Ashley grew up from a small Carno factory

Fashion and home furniture The retailer Laura Ashley has closed around 40 stores in the UK to expand China's presence.

The name of Laura Ashley, Malaysian United Industries (MUI), is closed from 40 UK stores since 2015.

High Street stores in the UK have been a tough year, they reduce consumers' confidence and see fewer buyers.

A recent report has shown that close to 14 stores have been closed in the midst of a tough commercial climate in the UK.

Andrew Khoo, Boo Yeow, was appointed as Executive Chairman of MUI, said with Malaysia, that it was a tough fight over the next two months.

He said that MUI restructured its business arms and rationalized its assets.

Mr Khoo said the Press Association would reduce the number of stores in the UK to 160-120, but the rest would expand.

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"It's more to show the brand," he said. "It does not matter [customers] buy online or offline, we want to inspire you.

"Environment is a challenge and it could be more challenging," he said.

As the company said, they said that all stores that need to close with more retail outlets are moving.

A great way to Asia

Mr Khoo said the PA company "moved to Asia was a great way".

"We have a Singapore branch office [that is] China was only based on electronic commerce.

"When we get a constant movement in retail digital commerce, for physical stores".

Image copyright
Getty Images

Image caption

A critic has said Laura Ashley's brand is not relevant

Originally from Wales, Laura Ashley grew up from a small Carno factory, becoming the brand of the world's leading brands in the 1970s and '80s.

But analysts say the brand is not relevant. The retailer expects a retailer to boost his offer in the second half of 2018, but critics say the company's e-commerce offers are not yet available.

In the beginning of this year, Laura Ashley gave a non-profit announcement after the disappointment of the 2017 Christmas trade figures.

News uploads shares. At one point, 26% fell, a 4% loss and a drop of 8%.

Recently, traders have invested in hotels. Laura Ashley brand new hotel opened in 2013. Currently, the company has both Laura Ashley Manor in Elstree and Laura Ashley in Belsfield Lake District.

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