The fashion retailer has seen footfall drop 25% week on week, which the retailer has attributed to the global pandemic of the coronavirus and are hoping to discuss potential rent reductions with landlords, with the underlying aim to reduce costs.

‘Given the performance to date, we do not expect the decline in sales from our retail stores to be fully mitigated by sales through our ecommerce channel, which remains fully open for business, whilst we are also pursuing cost saving measures across the business, we do not expect these to be sufficient to offset the sales decline. As at today we have a strong position of £47 million net cash on our balance sheet. Also, our working capital performance to date has been better than our forecasts.’