Shares in Laura Ashley have dropped after the retailer said its financial results will be significantly below expectations.
The high street stalwart issued a statement to the market on Thursday warning that trading conditions had been "very demanding" during the third quarter.
The results for the year to June 30 are therefore now expected to be significantly below market expectations.
Shares in the group fell as much as 20% in Thursday trading, though recovered to close 3.57% lower at 2.7p
In February the brand revealed half-year figures that showed plummeting sales of its furniture, wiping out pre-tax profits to zero.
Although the group's fashion sales have shown positive momentum, it has suffered from a slowdown in high street footfall and a weaker market for big-ticket items like furniture.
In December the Press Association revealed that the chain, which had 156 UK stores by the end of last year, will cut around 40 more sites as part of an ongoing strategy to slim down the estate.
It comes after Andrew Khoo succeeded his father Khoo Kay Peng as chairman of Laura Ashley's owner last year, with a fresh vision for the brand which includes expansion in China and developing the hospitality segment of the business.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here