UK: Laura Ashley Sells Foreign Stores For Two Euros
Troubled fashion and furnishings group Laura Ashley on Wednesday said it would sell its operations in Italy, Austria and Switzerland for just two euros, around £1.40. The company, which last month announced an annual loss of £4.9 million and the resignation of its chief executive, said the 10 stores being sold had a pre-tax loss of £1.3m on revenue of £6.6m in the year ended January 25.
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