Mulberry has entered into consultation with its staff in the UK and overseas with a view to reducing its headcount. It says that it does not expect a swift recover in sales following the lockdown periods across its stores.
The luxury brand has been able to re-open some of its overseas stores and plans a phased re-opening of UK stores from June 15th.
CEO Thierry Andretta said: “We reacted swiftly to manage the impact of Covid-19 and continue to execute a well-developed plan to manage capital, reduce costs, and maintain a robust liquidity position. In spite of the good performance of our sector leading digital and omnichannel platform, and our global network of digital concessions, the shutting of all our physical stores has had, and will continue to have, a marked effect on our business.”
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