In a statement echoing one issued at the beginning of October, men's wear retailer and hire shop Moss Bros has warned that its new look stores and ranges will take longer than expected to produce profitable results.

A sharp fall in demand since September 11, the failure of desperate price cutting measures, and uncertainty in the run-up to Christmas have all forced the company to warn that it will fall deeper into the red than expected.

Analysts raised forecast of the annual loss from £3m to £5.5m and questioned how long chief executive Roland Gee can stay in the top job.
Moss Bros is currently in the middle of restructuring efforts that reflect the move away from formal wear in men's fashion. But the company has been criticised as too slow to adapt to these changes in working dress habits.