Jobs at risk at N Brown as transformation strategy continues
Online clothing and footwear retailer, N Brown, has commenced redundancy consultations at its Manchester headquarters, which, it is understood, could affect up to 35 people.
The group, which is transitioning to digital trading, is currently undertaking a transformation strategy to achieve more agile working.
A spokesperson for the group told TheBusinessDesk.com that a “small number” of jobs are at risk of redundancy.
They said: “As we undertake our business transformation programme, our operating model continues to evolve and this has resulted in a small number of roles being put at risk of redundancy.
“This is not a decision we take lightly, and we are committed to supporting our colleagues throughout this process.”
Last October the group released its interim results which showed its revenues fell 10.4% from £331.5m to £297m.
A pre-tax profit of £7.2m for 2022 became a pre-tax loss of £4.1m this year, but the group said this included adjusting items of £4.5m relating to restructuring activities to ‘right-size’ the cost base.
Adjusted EBITDA of £17.5m was down from £27.9m the previous year, but the group said this was in line with expectations, supported by disciplined management of areas within the business’s direct control.
Full year adjusted EBITDA is expected to be in line with market expectations of £44.7m, it said.
During the first half of the year, the group completed the successful launch of a new mobile-first website for its Jacamo brand, the second of its three strategic brands to have transitioned to the new platform, and a key transformational priority.
In a trading update in January this year, chief executive, Steve Johnson, said: “We are pleased with the progress we have made in transforming the business, the resilience built through our strong balance sheet, and that our full year EBITDA expectations are on track.
“Building on what’s been achieved in the last 12 months, we continue to make progress on our strategic transformation, with the launch of the new Jacamo website another recent milestone.”
