UK fashion and home furnishings chain Laura Ashley is shutting down its flagship store on London's Regent Street after operating there for 25 years.

The company decided to close the store following a rent review, which concluded that it would not be profitable to keep the location in business.

Laura Ashley's announcement comes just a week after department store chain House of Fraser Plc revealed it would close its 170-year-old Dickins & Jones store on the same street due to increased rent expenses.

Laura Ashley shut 22 stores in the UK last financial year, and opened six new retail locations.