Lingerie retailer Bravissimo has reported a 30.5% year-on-year decline in group revenues to £41.9m in FY20.
The group also saw losses before tax widen to £4.4m for the year to 31 October 2021, up from losses of £628,000 the previous year.
Net assets also decreased from £14.7m to £10m in the period that saw Bravissimo permanently close three of its 29 shops.
The retailer, which provides D-cup and above underwear, also secured a government-backed CLBILS loan to “assist with cashflow challenges” as operations were “significantly impacted” by store closures due to the Covid-19 pandemic.
In turn, the directors of the company claimed they have “reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future”.
Adding to the “severe” impact of the pandemic on FY20’s revenues and profits at the firm, Bravissimo stated that the business was “further impacted” by additional lockdowns since the period end.
It said: “Whilst the UK retail estate is now fully operational and the principal e-commerce markets returning to pre-pandemic demand, there remains uncertainty around future impacts of the pandemic on the business”.