Home furnishings and interiors business Fired Earth has reported widening losses in what has been a challenging year.

According to its latest filed accounts for the year ended 30 September 2023, total sales fell 5.2% to £14.1m from £14.9m on the previous 12-month comparative period of October 2021 to September 2022.

The EBITDA loss for the period stood at £1.7m, widening from a loss of £279,000. Pre-tax losses resulted at £1.5m, down from a profit of £97,000.

Stated within its report, the company said: “It was a challenging year with turnover down and cost pressures and wage inflation having a negative impact on company performance resulting in an operating loss.

“Our online performance remained strong but retail sales decreased marginally across our continuing 25 showrooms.  We were delighted to open a new flagship showroom close to New Kings Road London in July.

“The company invested in a comprehensive external strategic review which has helped set our medium-term plan involving additional up-front investment in people, product, brand and partnerships. This will bring a return to profitability in the medium term from our core business and improve our diversification opportunities for the future.”