Womenswear retailer Jacques Vert's acquisition of William Baird helped the retailer deliver a five-fold increase in turnover, but the business sank into loss after exceptional charges.
Last December's acquisition transformed Jacques Vert, by adding womenswear brands Windsmoor, Planet and Precis, menswear label Melka and the Tenson outdoor brand.
Melka and Tenson will now be restructured, at a probable cost of about£2 million over the next 12 to 18 months, said chief executive Paul Allen.
The retailer hopes to further diversify with the acquisition of a young fashion brand in the medium term.
Turnover was£91.5 million for the full year. The operating loss after exceptionals of£419,000, compared with£1.3 million profit last year.
Vert was stung by a rise in distribution costs, administrative expenses and redundancy payouts.
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