City Chic is on track to report a 30 per cent fall in sales this year, dragging the women’s specialty fashion retailer’s bottom line deep into the red, internal documents show.

Shares in the ASX-listed company have been suspended for days as the company seeks an emergency $27.5 million equity injection and sells Avenue, a North American brand, for $14.5 million. The Australian Financial Review’s Street Talk column reported this week that FullBeauty Brands is purchasing Avenue from City Chic.