Fashion chain Laura Ashley goes into administration
Published: 12:37, 17 March 2020
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Fashion chain Laura Ashley has gone into administration after rescue talks were thwarted by the coronavirus outbreak.
The company has a store in Inverness, housed in a listed building in Falcon Square.
Today's announcement comes just weeks after the 52-year-old retailer said it was trying to unlock more money from one of its main lenders after US bank Wells Fargo started to tighten its purse strings.
In February, the company warned it needed £15 million of emergency cash by the end of this month to avoid putting 2700 jobs at risk.
It said there had been a "significant" drop-off in trade with no end to the coronavirus crisis in sight.
