Laura Ashley proprietor able to revive model

Laura Ashley’s new owner has said it is ‘primed and ready’ to revive the 72-year-old fashion and home furnishings brand.

New York-based Marquee Brands, which also owns clothing brand Ben Sherman and the lifestyle brand of US TV personality Martha Stewart, has bought the business for an undisclosed sum from Gordon Brothers, a restructuring firm.

Laura Ashley, known for its flowery frocks and wallpaper, was bought out of administration by Gordon Brothers in 2020 when it became one of the first casualties of the Covid-19 pandemic, forcing the closure of all its 147 shops.

It returned to the High Street a year later through an agreement with retail giant Next and also has deals with sofa group DFS and department store chain John Lewis, although it does not have any stores of its own.

Bouncing back: Laura Ashley, known for its flowery frocks and wallpaper, was bought out of administration by Gordon Brothers in 2020

Under the takeover deal, Laura Ashley’s UK-based team, led by its boss Poppy Marshall-Lawton, will remain in place.

‘With the existing UK team in place, we are primed and ready to leverage Laura Ashley’s seven-decade legacy to unlock its future potential as a full lifestyle brand innovating new products,’ said Marquee Brands’ chief executive Heath Golden.