ONLINE LUXURY RETAILER FEARS AS ORDERS FALL

MATCHESFASHION sounded the alarm over its future and warned that its orders could nosedive.

The online luxury fashion retailer said that in the year to July sales could fall 9.1pc. The firm said it was at risk of failing to meet its financial obligations in January and may have to turn to discounting to flog stock or raise fresh 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 clothes from designer brands including Prada, Gucci (pictured) and Balenciaga online and has three stores in London.

In the year to February 2022 Matchesfashion’s sales slipped slightly to £386,600. It made a £36,300 loss.

This year the group brought in former Asos boss Nick Beighton. He said a recovery at the firm is ‘well under way’, adding: ‘I’m delighted with the stronger performance since August.’