British fashion and furnishing chain Laura Ashley has announced that it has filed for administration as rescue talks have been thwarted by the coronavirus outbreak. 

The announcement comes days after reports that the company was seeking a £15m emergency loan by the end of the month. 

Laura Ashley operates more than 150 British stores and has 2,700 employees. 

The company has said: "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."