![](https://s3media.freemalaysiatoday.com/wp-content/uploads/2020/02/laura-ashley-1-utama-fb-180220-1.jpg)
The company said “increased uncertainty” arising from the Covid-19 outbreak meant it was unable to secure necessary funds from stakeholders.
In a statement, Laura Ashley said it had hired advisers from financial services firm PwC to oversee administration – the process whereby a troubled company calls in outside expertise to try and minimise job losses.
Despite some recent poor trading, the retailer said it had experienced rising sales in recent weeks.
“The Covid-19 outbreak has had an immediate and significant impact on trading, and ongoing developments indicate that this will be a sustained national situation,” said the company, whose shares have been suspended.
The British company is controlled by Malaysia’s MUI Group. - FMT
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