Laura Ashley to close 40 UK stores amid a push into China
Fashion and home furnishings retailer Laura Ashley will close about 40 stores in the UK as it plans to expand its presence in China.
Laura Ashley, which is owned by Malayan United Industries (MUI), has already closed some 40 UK stores since 2015.
High Street stores in the UK have had a difficult year as consumer confidence wanes and fewer shoppers visit.
A recent report has shown that some 14 shops are closing every day in the UK amid the tough trading climate.
Andrew Khoo Boo Yeow, MUI’s newly appointed executive chairman, told reporters in Malaysia earlier this month that he expected the business to see some tough headwinds across the next two years.
BBC News