High Street favourite FatFace warned it could struggle to keep trading if the pandemic worsens.
The clothing chain said its future could be uncertain if the lockdown lasted beyond the end of March.
It made the comments in annual accounts filed to Companies House, which were submitted before the lockdown timetable was announced.
All at sea: FatFace said its future could be uncertain if the lockdown lasted beyond the end of March
FatFace is likely to avoid a full-blown crisis, however, as it reported it was most at risk if stores remained shut until June.
It said it could slash more costs and close some of its branches to save money. In an update on current trading, it said online sales had been better than expected during Covid.
Revenues slid to £198m from £236m in the year to May 30, 2020, while losses narrowed.
The company was founded in the Alps in 1988 by friends Tim Slade and Jules Leaver, who sold T-shirts and sweatshirts from a campervan to pay for skiing.
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