In The Style is cutting jobs as it battles against falling sales ahead of its return to the London Stock Exchange.

The fashion retailer reported a pre-tax loss of £2.6m for the year to 31 March, compared to its £7.7m loss recorded the year before.

Revenues fell from almost £46m to £30.4m, while UK sales were down from £42.7m to £29m over the same period.

During the period, In The Style slashed its headcount from 179 to 140, having taken “significant steps to reduce operational overhead by investing in automation, clear strategic priorities and the removal of duplication of task.”

It comes after the business’s founder Adam Frisby stepped down from the brand in September.

Sharing the news on Instagram at the time, Frisby said that it was with a “heavy heart” that he would “no longer be part of In The Style”.

The founder also exited his role of CEO back in December 2023.

Frisby, who agreed to return to the CEO position when In The Style was sold to private equity firm Baaj Capital earlier in 2023 in a move that staved off administration, said his decision had been made as the business had “turned a corner” and was back to profitability.

Click here to sign up to Retail Gazette‘s free daily email newsletter