Throw in a profit loss of 50%, a vacant CEO spot and their soft entry into the 'budget' designer bag arena, things are starting to look a bit bleak at Mulberry HQ.
So why haven't they hired anyone yet?
"It's an important role and the board is aware that people are frustrated that it is taking time, but we are determined to find the right person," Mulberry's chairman and acting CEO told Vogue.
"In the meantime we have a strong creative team here doing a great job."
So who is in the running? Well Roland Mouret, Mary Katrantzou, Erdem and Sophie Hulme have all been rumoured for the job.
Only time will tell who has got the muscle to save Mulberry.
Got some suggestions for who should take over? Tweet us @handbagcom
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