Ted Baker suffered a loss before tax at reporting level of £79.9m in the year to January 25, versus a profit of £30.7m the previous year. Total sales slipped 1.4% to £630.5m.

The quirky brand and retailer intends to raise £90m net through a share placing and open offer, which it said would allow it “to navigate the challenges of the global coronavirus pandemic and return to profitable growth”.