The embattled retailer put its poor first quarter trading down to “the continued weakness in the underlying clothing market” and a “lack of seasonal weather to counteract it” and said there was a “significant degree of uncertainty” as to whether it would achieve its profit target this financial year.

The fashion brand’s board also called on shareholders to accept the £5.7m offer made by Edinburgh Woollen Mill owner Philip Day in May, despite it still being of the view that the price “does not adequately reflect the potential longer-term value” of Bonmarche.

PwC, the retailer’s financial advisors, have questioned whether the business can continue as a going concern without an improvement in trading of the rest of the financial year, yet have also “expressed concern” over Day’s plans for the business.