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Money.co.uk comment: Laura Ashley collapses into administration

Written by Salman Haqqi, Senior Personal Finance Writer

17 March 2020

As the effects of coronavirus hit the high street with the collapse of Laura Ashley, money.co.uk comments.

Salman Haqqi, personal finance expert at money.co.uk, said: "After many months of speculation the fears of Laura Ashley's UK staff and loyal customers have been confirmed, as administrators have been instructed to take over the business.

"It's sad but not surprising news, as we know they are one of the many household high street brands that have struggled to make ends meet in the current retail climate.

"Clearly COVID-19 has had a role to play here too, with potential customers worried about going out and doing non-essential shopping - the fashion and homeware chain has even said it has filed for administration after rescue talks were thwarted by the coronavirus pandemic.

"It's undoubtedly distressing news for employees of Laura Ashley and their families especially in such worrying times. Now is the time to check what redundancy rights you have and dig out any income or mortgage protection policies you hold, just in case.

"It's currently unknown whether or not Laura Ashley will honour gift vouchers and refunds now administrators have been called in. It isn't illegal for them to refuse refunds so if you were hoping to return any goods you may be in for a lengthy battle to get your money back."

Employees worried about their redundancy rights should read the money.co.uk guide for more information.

For customers worried about their rights now that Laura Ashley has gone into administration, read the money.co.uk guide for more information.

Press@money.co.uk

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Salman Haqqi

Salman Haqqi, Senior Personal Finance Writer

Salman Haqqi spent 10 years as a journalist reporting in several countries around the world. He left the world of journalism to pursue his passion for personal finance.

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Joel Kempson

Joel Kempson, Personal Finance Writer

Joel Kempson devotes his time to helping people navigate the world of personal finance and make informed decisions about their money. He spent his early career writing about TV, movies, comic books and rock music.

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