UK government urged to boost Covid-19 economic protection package – bu…


For the seven weeks up to 13th March, trading for the Laura Ashley business improved by 24% year-on-year and the directors were encouraged by this strong performance. However, the COVID-19 outbreak has had an immediate and significant impact on trading, and ongoing developments indicate that this will be a sustained national situation.

Discussions with stakeholders have been ongoing and the directors are in advanced discussions for the provision of third-party debt funding. However, based on the Company’s revised cashflow forecasts and the increased uncertainty facing the Group, the Company expects that it will not be in a position to draw down additional funds from third party lenders in a timely manner sufficient to support working capital requirements.



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