Thousands of jobs set to go as Laura Ashley goes under

Thousands are jobs are set to be lost after retailer Laura Ashley went into administration.
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No fewer than 2,700 jobs at risk after rescue talks were halted by the coronavirus outbreak.

The troubled retailer has stores across Nottinghamshire, Derbyshire and South Yorkshire, all of which will be affected. In total, there are 150 Laura Ashley stores in the UK.

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It said the Covid-19 pandemic has "had an immediate and significant impact on trading, and ongoing developments indicate that this will be a sustained national situation".

British clothing and household goods retailer Laura Ashley Holdings collapsed Tuesday, March 17 into administration as rescue talks failed due to coronavirus turmoil, risking up to 2,700 jobs. (Photo by Paul ELLIS / AFP)British clothing and household goods retailer Laura Ashley Holdings collapsed Tuesday, March 17 into administration as rescue talks failed due to coronavirus turmoil, risking up to 2,700 jobs. (Photo by Paul ELLIS / AFP)
British clothing and household goods retailer Laura Ashley Holdings collapsed Tuesday, March 17 into administration as rescue talks failed due to coronavirus turmoil, risking up to 2,700 jobs. (Photo by Paul ELLIS / AFP)

Firms in several industries are reportedly on the verge of collapse after the government advised people to avoid unnecessary contact with others.

The collapse comes as the chancellor prepares fresh support for companies, having already announced a £12bn Budget package to help businesses deal with the crisis.

The announcement is expected to be made in Tuesday’s press briefing on the virus.