The British brand says a cost of living crisis, coupled with a fall in real wages, has contributed to weaker sales.

And the company - whose fashion line mainly includes sweatshirts and hoodies - says its performance has been affected by extreme weather in Europe.

Revenue for the three months to July fell by 18.4%, with Superdry saying there was lower demand for its spring/summer collection.

However, the company told investors that its latest autumn/winter range is selling better than it usually would at this time of year.

The chain ended the year to 29 April with an adjusted pre-tax loss of £21.7m, compared with a profit of £21.6m the year before.

'Extremely challenging' conditions

Superdry had delayed the publication of its annual report yesterday - and asked for shares to be suspended until results were released.

"This has been a difficult year for the business and market conditions have been extremely challenging," CEO and founder Julian Dunkerton said.

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For now, Superdry is raising funds in an attempt to shore up its finances - and says cutting costs is a priority.

Trading remained suspended on Friday - and so far this year, Superdry's share price has plunged by 58%.