Here's the message from LTS' COO Alison Doherty
I hope you are as well as can be expected in these unusual times.
This isn't easy to write, however honesty is always the best policy so I'll be completely transparent in explaining the decision we have made.
The changing economics of retail, along with fierce competition, have hit us hard. Trading has been incredibly challenging and we've relied heavily on shareholder support to bolster LTS.
The very sudden and very profound impact of Covid-19 has further weakened our position. The economic outlook is now too uncertain for our shareholders to continue to support the business, so it's with a very heavy heart that I must tell you we will be winding down Long Tall Sally. Please know we explored every possible avenue to continue trading but the financial impact of the pandemic means the business is no longer sustainable
I know how disappointed you will be to receive this news. I don't think it's an overstatement to say that, after 44 years of trading, it really is the end of an era. I only wish it didn't have to be this way.
If you have questions, I promise to do my best to answer them. Please click here for FAQs, which we'll keep updated as we progress. I'm sure you'll want to know *when* we're closing. At the moment, our aim is to continue trading until the end of August but if anything changes, you'll be first to know.
On a personal note, it's been my privilege to serve Long Tall Sally for the past ten years. I couldn't be more proud of the brand, the community and the incredible team we've built. I will miss them all immensely.
On behalf of the entire team here at Long Tall Sally, thank you for joining us on our journey.
Best wishes,
Alison Doherty
Chief Operating Officer