British retailer Laura Ashley has announced that Katharine Poulter, currently its chief operating officer, will take on the role of chief executive and executive director immediately.
She has only been in her current role since January, but Ms Poulter has experience with other companies including Marks and Spencer, Habitat and Wilko Brands.
The firm said she has “spearheaded a strategic review of the business”.
On Wednesday, the struggling retailer announced it had secured a loan to fund its day-to-day operations, following speculation about its survival.
The total group’s sales stood at £109.6m in the last half of 2019, down from £122.9m a year earlier.
The firm said it had been hit by reduced consumer demand, business rates increases and higher prices due to Brexit uncertainty.