Clarks has appointed McKinsey & Co to conduct a review of its business.

The British-based shoe retailer reported a loss after tax of £82.9 million in the full year to 2 February 2019, more than double the £31.3 million loss reported the previous year.

According to the Sunday Times, Clarks have brought in the management consultancy to put a restructuring plan in place. It reported that finance director Paul Kenyon would be departing to join Independent Vetcare, which is chaired by former WH Smith chief executive Kate Swann.

Former Low & Bonar chief executive Philip de Klerk will step in as interim finance director.

The company operates 553 shops in the UK and Ireland, with around 12,000 members of staff.

Since the end of the 2018/19 financial year, Clarks hired Giorgio Presca as chief executive, and closed its last manufacturing warehouse in Somerset, which meant losing 35 job.

In April, Clarks teamed up with Whishworks to automate and optimise its supply chain operations. The transformation was focused on its UK and EU distribution centre in Somerset, which ships on average 75,000 shoes per day.

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