The shutters are set to come down on about a quarter of Laura Ashley’s high street shops as it rethinks it stores format and prioritises an expansion in China. The shift at the retailer famed for its floral print fashions is the brainchild of Andrew Khoo, its new chairman. Mr Khoo, who took over from Khoo Kay Peng, his father, last week, plans to shut about 40 of Laura Ashley’s 160 stores, reducing the total in the portfolio to 120. He said it was possible that the remaining stores would be larger and could take on some of the staff whose jobs were in peril. Laura Ashley has already closed 40 outlets since the beginning of 2015, so the latest plan appears to be an…

Source: The Times December 17, 2018 00:00 UTC