Wren Kitchens' parent company has recorded a net loss of over £15m in its latest financial report, shedding another 500 jobs in the last 12 months.

Wren has more than 100 UK showrooms, including those at Gloucester St Oswalds and in Cheltenham's Swindon Village.

West Retail Group's annual report for the year ended December 31, 2024, revealed the company's pre-tax profits fell to £1.03m - a massive reduction from 2023's profits of £35.1m. This marks a massive decline from West Retail Group's record year in 2022, in which profit hit a high of £75.9m.

The group has also seen a slight decline in its turnover compared to 2023, dropping around 4%. The company closed the 2024 year with sales of £949.3m, down from the previous year's turnover of £991.6m.

West Retail Group made a total net loss of more than £15m in the 2024 financial year, compared to its net profit of £14.9m achieved the year before.

The company also says its employee headcount has reduced by more than 500 people. This time last year, the group said it employed a total of 7,631 people, which has now dropped to 7,129 - a reduction of more than 6.5%.

This follows West Retail also losing more than 1,200 members of staff in 2023, meaning the company has lost more than 20% of its workforce over the last two years.

West Retail Group is the parent company behind two companies. Wren Kitchens Limited retails kitchens and bedrooms in the UK, and the group's stateside arm, Wren US Holdings Limited, does the same thing in the United States.

Despite the results, the group strategic report said the directors were 'satisfied' with the group's performance.

The report said: "Whilst both businesses carry out very similar operations, they are at completely different stages of their development.

"In the United Kingdom, Wren Kitchens, despite having a fraction of the number of outlets of its competitors, is already the number one kitchen retailer in the country. In the United States of America, Wren US Holdings Limited is investing heavily in anticipation of future growth."

It added that industry reports suggested that the UK market has dropped by about 17% from the highs of 2022 but confirmed the directors' view that the company has continued to gain market share over the last few years despite the market conditions.

Turnover of £917,728,466 was the third highest in Wren's history.