Laura Ashley was a British icon — then COVID killed what was left

Laura Ashley was founded in 1953 by Laura and Bernard Ashley and became one of Britain’s most recognisable retail brands, known for its floral-print home furnishings and clothing. At its peak in the 1980s and 1990s, the brand had more than 200 stores worldwide and was synonymous with English country-house style. The company was acquired by M&S in 1985, floated on the London Stock Exchange, and later taken private by Malaysian investors in 1998.

The company had been in decline for years before 2020. Online competitors and shifting tastes away from traditional floral decor eroded sales. A series of turnaround plans failed. In August 2019, Laura Ashley reported an expanded annual loss of £14 million, with like-for-like sales falling for the tenth consecutive quarter. The company had a pension deficit, mounting debt, and had been shopped for a sale as early as 2018.

On 17 March 2020, one week into the UK’s COVID-19 lockdown, Laura Ashley filed for administration, becoming one of the first major British retailers to collapse as a result of the pandemic. All 150 stores were closed, and approximately 2,700 employees were furloughed or laid off. On 22 April 2020, US investment firm Gordon Brothers acquired the brand name, archive, and intellectual property for an undisclosed sum. The stores never reopened. The company that had decorated British homes for 67 years existed only as a licensing operation.