British womens clothing and homewares retailer Laura Ashley has filed for voluntary administration.
The company has appointed FTI Consulting as administrators to conduct an urgent assessment of the company's financial position.
The appointment reportedly applies only to Laura Ashley's Australian stores with its New Zealand and UK brances unaffected.
The company believes that the administrators' intend to push forward with “business as usual” while monitoring performance and trading of individual stores.
As such no immediate significant changes to its trading operations are expected including store closures.
Laura Ashley currently operates 38 stores across Australia.