Asos expects sales slump to continue as it is hit by near £300m loss

Analysts fear online fashion retailer will need to raise more cash, possibly through sale of Topshop brand

Asos has warned sales will continue to fall in the year ahead – by much as 15% – after delayed results revealed it slumped to a near £300m annual loss.

Analysts have expressed fears that the online fashion site will need to raise new cash – potentially through the sale of its Topshop brand – with net debt including leases now at £648.5m, up from £533m a year before.