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Corker: Naked Wines chairman Rowan Gormley (pictured) founded the online wine store in 2008
Rowan Gormley’s turnaround at Naked Wines failed to gain momentum as sales fell and losses mounted.
The former chief executive, who founded the online wine seller in 2008, left four years ago and returned as chairman last year.
Gormley, 62, returned to help cut costs and inventory.
But the latest results show sales fell 18 per cent to £290m in the year to early April, while losses widened from £15m to £16.3m.
Gormley said that while the situation was “in a much better state”, there was still much to do. “We are making real progress in turning things around,” he said.
“Now that the team has addressed the cost base and liquidity issues, we can focus on the big prize… restoring profitable growth to Naked Wines.”
Nude viewing boomed during the pandemic but plummeted once lockdown restrictions were lifted as hospitality venues reopened and the cost of living crisis hit orders.
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