Tom Tailor warns of potential mid-term liquidity issues

The retailer Tom Tailor has warned that it's running low on cash, revealing in a statement that current lack of sales meant it could experience medium-term liquidity problems. These mean that the retailer could risk non-compliance with the credit ratios it's obliged to maintain, wrote the board of directors. It warned that poor sales results would be seen as soon as the numbers for the first quarter of 2020. With too much uncertainty over the future course of events thanks to the pandemic, the company said it would only be publish preliminary figures for its 2019 financial year rather than the full financial statements. Virtually all of its European stores have been closed until further notice and its wholesale sales have also been impacted negatively.