High-end designer furniture retailer The Conran Shop has reported a decline in sales.

According to its latest filed accounts for the year ended 31 March 2024, total sales fell 58% to £10.7m from £25.5m in 2023.

Pre-tax losses widened to £10m from a loss of £9.9m recorded the previous year.

Stated within its report, The Conran Shop said: “The company made a loss for the year and has continued to make losses after the year end. The company is not expected to return to profitability within the next 12 months.

“Whilst the performance of the company has been disappointing in recent years, with the backing of the shareholder, the restructuring of the company and the group is now in progress. The company’s store in Chelsea closed in the prior year and after the year end the Marylebone store has closed.

“The company’s subsidiary, The Conran Shop SAS, in France, has been placed into voluntary liquidation during the period. During the period, the company acquired a controlling interest in a company incorporated in Kuwait and this company commenced trading towards the end of the period.

“With the company’s new flagship store in Sloane Street, its new subsidiary and the plan to re-focus the product offering along with continuing to streamline the business operations, the directors are very optimistic about the future.”