Laura Ashley looks set for another rebirth after being snapped up by US firm
LAURA ASHLEY looks set for another rebirth after being snapped up by Marquee Brands, the owner of Ben Sherman.
The US group, which already runs 17 different brands, bought the British firm from investment group Gordon Brothers for an undisclosed amount.
The fashion and furnishings business was founded in 1953 and its trends became a favourite in the ’70s, with homewares following in the ’80s.
But it hit the skids at the start of the pandemic and was forced to shut 70 stores, leaving hundreds of staff facing an uncertain future.
Gordon Brothers bought the brand in 2020 and relaunched it on high streets through a partnership with Next in 2021.
Tobias Nanda, of Gordon Brothers, said: “We built a flexible, scalable licensing business and a global e-commerce presence.”
READ MORE ON LAURA ASHLEY
The new owners said they plan to keep the UK staff in place while they “unlock its potential as a full lifestyle brand innovating new products and categories in key markets”.
Airline cheer
FESTIVE travellers helped budget airlines Ryanair and Wizz Air pull in more passengers in December, despite weather disrupting flights.
Gatwick had four days of issues between Christmas and New Year.
But Ryanair carried 13.6million passengers in December and Wizz Air 5.1million, both up on 2023.
Homes in dip
MORTGAGE approvals fell in November after rising for three consecutive months, Bank Of England figures showed.
There were 65,700 approvals, around 2,400 fewer than in October.
But investor Hargreaves Lansdown said: “There’s every chance this is a seasonal blip.”
