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Online luxury retailer fears if orders fall: Matchesfashion sounds the alarm about its future and warns that sales could fall
Under pressure: Matches sells clothing from brands such as Prada and Gucci (photo) online and has three stores in London
Matchesfashion sounded the alarm about his future, warning that his orders could take a nosedive.
The online luxury fashion retailer said sales could fall by 9.1 percent in the year to July.
The company said it risked defaulting on its financial obligations in January and may need to discount to boost inventories or raise new funds.
It has issued similar previous warnings, but received three waivers from lenders. It is likely to try to negotiate another one now.
Matches sells clothing 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. It made a loss of £36,300.
This year, the group brought in former Asos boss Nick Beighton.
He said the company’s recovery is “well on the way”, adding: “I am pleased with the stronger performance since August.”