Luxury online retailer fears drop in orders: Matchesfashion raises alarm bells over its future and warns sales could plummet
Under pressure: Matches sells clothes from brands such as Prada and Gucci (pictured) online and has three stores in London
Matchesfashion has sounded the alarm over its future and warned that its orders could take a nose dive.
The luxury online fashion retailer said that by July, sales could fall by 9.1%.
The company said it was at risk of not meeting its financial obligations in January and may have to turn to the discount to sell off stock or raise new funds.
It issued similar previous warnings, but received three waivers from lenders. He is likely to try to negotiate another one now.
Matches sells clothes from designer brands such as Prada, Gucci and Balenciaga online and has three stores in London.
In the year to February 2022, Matchesfashion sales fell slightly to £386,600. He made a loss of £36,300.
This year, the group brought in former Asos boss Nick Beighton.
He said a recovery within the business was “well on track”, adding: “I am delighted with the best performance since August”.