Courts / Ireland / Report

Hopes expressed over Laura Ashley jobs

Summary

In a High Court hearing on 1 May 2020, Ms Justice Leonie Reynolds confirmed the appointment of joint liquidators Ken Tyrell and Declan McDonald of PWC to LauraAshley Ireland Ltd, a subsidiary of the Irish arm of the fashion retailer Laura Ashley that employed over 70 people. The Irish company had been seeking liquidation after its UK parent entered administration following the Covid‑19 pandemic, which ended a proposed sales process and left the Irish firm without further financial support. The company's balance sheet showed a deficit of more than €563,000, and it had liabilities of €3.3 million, 80 % of which were owed to other group companies. The court noted that the US investment firm Gordon Brothers had acquired the Laura Ashley brand in administration and was conducting due diligence to streamline the business in Ireland and the UK, raising the possibility that some Irish stores and jobs might be retained.

Who, what, where, when and why

What: Report matter: Hopes expressed over Laura Ashley jobs. Procedural stage: hearing_or_decision

When:

• 2020-05-01 Publication

Places mentioned

Topics

Stage Hearing Or Decision

Read the original CNI report