Laura Ashley sells Moss Bros holding for £8 million

Laura Ashley sold off its holding in Moss Bros yesterday – a move which netted the women’s wear and home furnishing brand £8 million.

According to City AM, Laura Ashley began to build its stake in the suit-maker in 2008 which fuelled rumours of a takeover, but a bid was never tabled.

On Tuesday the group posted a 13 per cent increase in like-for-like sales in the five weeks to 11 January and boosted its dividend, leading to a share price increase of 20 per cent.

Laura Ashley said the sale will be used to “enhance the financial position of Laura Ashley and for additional working capital”.



Posted on January 16, 2014, in #ireland, #retail, #uk. Bookmark the permalink. Leave a comment.

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