Global Investment Firm Acquires Iconic British Retailer’s Assets
- Gordon Brothers rescues Laura Ashley from administration
- Acquires global brand, archives and intellectual property
- Plans to evaluate go-to-market strategies
- Focus on e-commerce, wholesale relationships, and expanding licensees and franchisees globally
Embattled retailer Laura Ashley has been rescued from administration by global investment firm Gordon Brothers for an undisclosed sum. The company acquired the global brand, archives, and related intellectual property from the Laura Ashley group’s administrators PwC. Ramez Toubassy, president of brands for Gordon Brothers, said: ‘Laura Ashley is a true giant among British lifestyle brands, possessing a unique ability to span geographies, product categories, and price points. We feel humbled and inspired by the responsibility to reignite Mrs. Ashley’s original vision while delivering unique and contemporary products to both long-time followers and new customers from around the world.’ As new owners of the brand, Gordon Brothers plans to partner with management to evaluate several go-to-market strategies, including retaining a streamlined portfolio of retail stores in key markets within the UK and Ireland. They also intend to place a strong emphasis on building e-commerce, developing more strategic wholesale relationships, and expanding the portfolio of licensees and franchisees globally. All Laura Ashley stores have been closed since 24 March 2020 due to government lockdown restrictions; however, the e-commerce business has continued to trade while working within social distance guidelines. Rob Lewis, joint administrator of several of the Laura Ashley group companies in the UK, added: ‘Throughout this process, Gordon Brothers has shown a passion for the Laura Ashley brand and I am delighted that, under their ownership, there will be a real opportunity to grow its profile worldwide. While they have taken an important step forward in securing the sale of the brand, they continue to explore opportunities to reshape the UK store-based retail and manufacturing businesses and are very grateful for the efforts of the entire team at Laura Ashley in helping with those discussions.’ Robert Russell, UK head of restructuring at DLA Piper UK, advised Gordon Brothers on the Laura Ashley brand acquisition transaction.
Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about the acquisition of Laura Ashley by Gordon Brothers, including quotes from relevant sources and details about their plans for the brand. It also includes relevant background information on the current state of the company and the ongoing efforts to reshape the UK store-based retail and manufacturing businesses.
Noise Level: 3
Noise Justification: The article provides relevant information about the acquisition of Laura Ashley by Gordon Brothers and their plans for the brand. It also includes quotes from key figures involved in the process. However, it lacks in-depth analysis or exploration of long-term trends or consequences of the decision.
Financial Relevance: Yes
Financial Markets Impacted: Laura Ashley’s administration and sale to Gordon Brothers impacts the retail sector and potentially related companies in the UK and Ireland.
Financial Rating Justification: The article discusses the acquisition of Laura Ashley by an investment firm, which has implications for the company’s future business strategy and operations, as well as its impact on the retail sector and potential partnerships with other businesses.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
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