(Reuters) - Clothing and furnishing retailer Laura Ashley Holdings Plc
Named after the Welsh designer who founded the company in the 1950s, Laura Ashley was a favorite of Princess Diana in its 1980s heyday, but has struggled to stay relevant in recent years as its floral, frilled and ruffles-heavy outfits fell out of fashion.
Another victim of the gloom that has shrouded Britain's retail sector, sales at Laura Ashley have been hit by store closures, a dampening consumer mood and the termination of a license agreement with a Japanese partner.
However, there have been signs of a resurgence in interest in its styles this year as it reported rising like-for-like sales in its fashion business in August.
(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Shounak Dasgupta and Sherry Jacob-Phillips)