Accessories retailer Oroton Group appears set to return to the black this year after slashing costs by more than $40 million and launching a new apparel range.

Oroton, which went into administration almost two years ago and was rescued by fund manager Will Vicars, lost $10.2 million in the 12 months ending July 27 compared with losses of $10.3 million in 2018, according to its 2019 accounts.