The fashion retailer and brand’s boss Lindsay Page, who only took the reins permanently in April, has stepped down with immediate effect. Finance boss Rachel Osborne has been named interim chief executive.

Executive chair David Bernstein, who had been due to leave the business next year, has also left the business as it wrestles to arrest tumbling sales.

Sharon Baylay has been named acting chair.

The top level departures come as Ted Baker was forced to issue its third profit warning this year after trading during November and the Black Friday period came in “below expectations”.