) calmed concerns over its working capital, saying it has access to sufficient funds to meet immediate funding needs, sending its shares up more than 15%.
The company is among a growing band of British retailers to encounter difficulties over the past few years, with falling sales leading to store closures while it also contends with weakness in its home furnishings business. Wells Fargo provided Laura Ashley with a 20 million pound last year, with the company’s assets as collateral.However, Cavendish Asset Management, its third-largest shareholder with a 1.7% stake, raised some concerns.
MUI may just throw in the towels after-all many retailers aren't well enough!
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