11th Jan 2016 10:35
LONDON (Alliance News) - Laura Ashley Holdings PLC on Monday said it has a GBP1.2 million exposure to its licence partner in Australia, which has been placed into voluntary administration.
The company, which specialises in retailing furniture, home accessories, decorating and fashion products, said it is continuing its discussions with the administrator regarding the future of the Australian operations.
"There is no effect on the rest of the Laura Ashley business," the group said.
According to its annual report for the financial year ended January 31, 2015, Laura Ashley Holdings has several licensing partners, manufacturing and supplying products such as carpets, window shutters, bed linen, tiles and cookware in the UK, Europe, Japan, America and Australia.
Shares in Laura Ashley were down 4.4% at 25.56 pence on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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