Laura Ashley’s chief opts to shut 40 stores

LAURA Ashley is to close around 40 stores as the company’s new chairman pushes ahead with a fresh vision which includes expansion in China.

Andrew Khoo said he expects to reduce the number of UK stores from 160 to 120, continuing a strategy that has seen 40 retail units close since the beginning of 2015.

Mr Khoo, who took over as chairman of Laura Ashley from his father Khoo Kay Peng last week, said: “The direction I want to go is to have not so many stores, but maybe the ones we have could be larger. It’s more about showcasing the brand. It doesn’t really matter if they buy online or offline.”

The firm will open stores in China once it has built up its online customer base.