Ashley (laura) Share Discussion Threads

[srpactive] 18/3/2020 09:01

Not looking good for shares, jobs could be saved who knows
with this lot.

[uncmike] 18/3/2020 08:54

And our share ? And the jobs

[srpactive] 18/3/2020 08:52

Well someone will buy it.

[uncmike] 18/3/2020 08:49

Please explain

[srpactive] 18/3/2020 08:40

Yes agree, but I would not use the word clever, many others would suit
in my honest opinion. He has left to probably come back and takes parts
of it with funding from the government and another.

[uncmike] 18/3/2020 08:33

The management are to blame, but it’s been going this way for a long time. My problem is the way it was done. These people are very clever and timed it to perfection. We had it coming for a long time. I assume it can still be bought up but dowt it will happen !! Would look good in frazers mr ashley???

[srpactive] 18/3/2020 08:26

So the person at the helm these past years left on Monday, really.

[srpactive] 18/3/2020 08:05

Also look at the sbry rns, what were our business rates last year.

[srpactive] 18/3/2020 07:40

Look at the 2016 report the company was booming just needed to
move like Cath Kidston and all would have continued to be good.
Profits £23.5m Lfl up 4%, £5m cash and a 2p dividend.

Then what happened in 2015 that changed.

dyor

[weatherman] 18/3/2020 07:24

There are couple of lessons from this. Don't invest in a company with one majority shareholder. The owner may act in their own interest against the interest of other shareholders, or their own vanity may drive the company into the ground because they don't need to listen to others. A wider collection of shareholders can force a company to focus on recovery. Also a collection of shareholders would have given a higher rating and possibility for a takeover.

[srpactive] 17/3/2020 22:17

B

The feedback of the new fashion has been positive and also the other parts of the business have been improving.

L

Good letter.

[uknighted] 17/3/2020 22:01

It isn’t just ALY today, there is Cineworld and Vue and I’m sure there will be others over the coming days also.

[bonio10000] 17/3/2020 22:00

The govt shouldn't be supporting companies like ALY

People should also not be investing in basket cases like ALY

Feb and Mar will be slow months - 24% year on year, with poor comparatives, is meaningless.

The clue was the share price.

[lippy2020] 17/3/2020 21:48

Worth a try - copied the pwc guys as well.

Dear Sir,

Hours before the Chancellor announced a variety of financial support measures to protect jobs under threat due to the Coronavirus epidemic, the Malaysian owners/board of Laura Ashley announced the almost certain loss of 2,700 jobs citing the Coronavirus and a lack of available finance.

There seems to me there is a massive disconnect here and the employees of this company should, at the very least, expect that Robert Lewis and Zelf Hussain, of Price Waterhouse Coopers, who have been called in by Laura Ashley, should take account of the availability of your generous measures and encourage the current board to reconsider their intention to put the company into administration and make every attempt to keep redundancy at bay for their loyal workforce until the future is clearer.

[e-mail] [e-mail]

[weatherman] 17/3/2020 21:47

Can an administrator refuse to accept administration given recent government guarantees?

[srpactive] 17/3/2020 21:46

Then this a few hours later the next day.

=================

For the seven weeks up to 13(th) 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.

[srpactive] 17/3/2020 21:41

This was Monday, if they had held as they state they have with the INTENTION,
they could have some of the £350bn of free cash loan.

========================================

During the six weeks to 7 March 2020, total sales were 27.7% ahead of the equivalent period in 2019 and gross profit was 22.2% up on the equivalent period, ahead of management expectations. Whilst the Company has not yet seen a significant financial impact due to COVID-19, the Company believes that it has the potential to negatively influence future trading as a result of reduced footfall and continues to monitor the situation closely.

Financing update

The Company is in advanced discussions with a third-party lender to provide facilities of up to an additional GBP15 million to meet the Group's working capital requirements. This process is being managed by Arrowpoint Advisory and the debt funding will need to be in place by no later than the end of March 2020.

If the Group is unable to secure commitment for the requisite level of funding by the end of March to satisfy its ongoing working capital requirements and turnaround plan, then the Company will need to consider all appropriate options.

[weatherman] 17/3/2020 21:28

This really needs to be investigated as one may ask whether it has acted legally. A company should act in the best interest of all shareholders, but we all, and I guess politicians have other things to worry about.

[srpactive] 17/3/2020 21:18

Well maybe do both I have contacted the chancellor everyone please help.

[weatherman] 17/3/2020 21:14

Or tip off the press and get them to investigate - eg. [e-mail]

[srpactive] 17/3/2020 20:42

L

Yes the MP and Chancellor have stated £400bn and £350bn of free cash for
business, for goods sake sort this out to save shareholders and jobs.

It does seem strange flat growth for the first seven weeks then 28% in the next six and we are only 11 weeks in so the good figures were already showing in the
overlapping weeks when they said we were flat.

Come on all help out.

email [e-mail]

[srpactive] 17/3/2020 20:41

L

Yes the MP and Chancellor have stated £400bn and £350bn of free cash for
business, for goods sake sort this out to save shareholders and jobs.

It does seem strange flat growth for the first seven weeks then 28% in the next six and we are only 11 weeks in so the good figures were already showing in the
overlapping weeks when they said we were flat.

Come on all help out.

email [e-mail]

[lippy2020] 17/3/2020 20:34

just seen this on

bit more detail if true - maybe ongoing
Download
Laura Ashley has said that it will need additional funding to stay afloat, a month after saying it had sufficient funds. The clothing and furnishing retailer needs to secure the funding by the end of March for its turnaround plan. Chief shareholder Mui Asia is actively considering an additional £10m credit facility, while another lender is being tapped for £15m. Shares in the retail firm are now worth less than 1p. The Times (£)

[srpactive] 17/3/2020 20:33

U

They stated profit growth of 22%.

I have not started yet this needs sorting one way or another.