Texplan Manufacturing Limited (03111631): administration
- Status
- Administration ended
- Administration began
- 2020-03-23
- Administrators' firm
- PwC
- Formerly
- Celtic Textiles Limited; Carno Manufacturing Limited; Marshallmills Limited
- Incorporated
- 1995-10-09
- Location
- London
- Industry
- 13921 Manufacture of soft furnishings
Why it went into administration
- Sustained trading losses
- COVID-19
- Weak consumer demand
- Shift to online / high-street decline
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Loss of key people
- Competition / price pressure
From the administrators' statement
Laura Ashley was founded in 1953 by Laura and Bernard Ashley. The Group was an international lifestyle brand specialising in furniture, home accessories, decorating and fashion products.
The Group has retail stores mainly based in the UK, Republic of Ireland and France, and franchise and licensee operations located in 25 territories across the world.
The Head Office for the Group was in Fulham, London with significant operations in Newtown, Wales and Coalville in Leicestershire. The UK store portfolio comprises 147 stores employing over 2,500 retail, logistics, manufacturing and head office staff.
Administrators' statement of proposals (2020-05-22) · Companies House register