Auditors to Clarks have warned that the shoe brand could cease to be a going concern.
EY has flagged up a risk to the chain’s finances in the accounts and said a poor period of trading may leave Clarks, which has more than 1,150 shops, in breach of banking covenants.
Clarks’ sales increased by 18.7% to £920.3m in the year to 29 January, returning to a profit of £55.4m, compared with a loss of £180.2m the year before.
Start your free trial today
Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.
Including:
Prima, Real Living and Cantay Estates have received funding for 189-bed PBSA
Katy Davis named as an equity partner at the firm
The site will be turned into 261 short stay serviced bedrooms
Rising remote and video appeals offer an opportunity to reduce space
