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Laura Ashley appoints advisors to market manufacturing base

Tom Shearsmith
18 August 2020

Avison Young’s specialist Restructuring Solutions Team has been appointed to market Laura Ashley’s manufacturing and distribution facilities on behalf of the Joint Administrators, Rob Lewis, Zelf Hussain and Rachael Wilkinson at PwC.

The 32-acre portfolio comprises of six individual properties, with more than 460,000 sq ft space, located in Newtown, Wales.

Avison Young’s restructuring solutions team will seek buyers for the portfolio either as a whole or in part, on both a for-sale and to-let basis.

Last month, Laura Ashley hired a second administrator to scrutinise its finances before it filed for administration.

FRP Advisory was appointed as joint administrators alongside PwC, at the request of the Pension Protection Fund.

Gordon Brothers bought Laura Ashley out of administration in April 2020, in a deal that included the company's global brand, archives and intellectual property.

The deal did not include any of Laura Ashley’s 147 store or its manufacturing and logistics operations in the UK, and PwC is still seeking a buyer for this part of the business.

In June, CEO Katharine Poulter was reportedly among staff being made redundant when the company disclosed a further 56 jobs.

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