Mulberry plans to cut 25 per cent of its worldwide workforce, the vast majority of which work in the UK. The high-end fashion brand, which is best known for its leather goods, employs 1,400 people, including 1,140 in the UK. The company would start reopening its UK stores from June 15. However, social distancing measures and reduced tourist and footfall levels are expected to affect its income.

Mulberry was founded in Somerset in 1971, where its two factories are still in production. The brand had been able to re-open stores in China and South Korea and, more recently, some stores in Europe and Canada.

It has 120 stores in 25 countries, but also ships to 190 countries around the world. Although digital sales of the brand have been good, it could not fully offset the fall in demand caused by store closures. Mulberry is one of the leading fashion brands that switched production from luxury goods to making medical equipment. Last month it had set its handbag factory in Somerset to making 8,000 gowns for NHS workers in Bristol