Life's not so sweet for struggling Thorntons

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Chief executive Jonathan Hart blamed fewer shoppers on the High Street and in malls and cost-conscious consumers choosing promotions over full-price choccies.

He said that Thorntons' rollout of its new store look and a better range of goods launches this month. He was also positive about orders for Christmas, which he called "strong and in line with expectations".

However, the online business Thorntons' Direct saw sales drop 8.1% over the past 13 weeks, reflecting the loss of a single unnamed corporate customer.

The shares, which have halved in the past 12 months, lost 1p at 45p. Merchant Securities analyst Amisha Chohan has a sell recommendation saying: "The high gearing with net debt of £24.5 million is a serious concern."