Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Laura Ashley, the British fashion and home furnishing retailer, has announced that it will make 268 head office and back office jobs redundant. The company entered administration in March, in the wake of the COVID-19 pandemic.
A representative of the administrators said that reducing the number of jobs was a difficult decision, however, it was necessary to ensure the future of the business, which is now up for sale. Another group of 1,669 workers have been placed on temporary paid leave, also known as 'furlough' under the UK Government’s Coronavirus Job Retention Scheme.
Laura Ashley was founded in London in 1954 and it operates 150 stores across the UK.
Update 28/06/2020: Laura Ashley has announced a further 56 job cuts affecting head office and back office roles. According to media sources, the company’s CEO, who was appointed in February 2020, just before the start of the coronavirus crisis, has also been made redundant. The total number of job losses is now at 324.
Eurofound (2020), Laura Ashley, Bankruptcy in United Kingdom, factsheet number 100234, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/100234.