The Reject Shop has said it will close down seven of its stores by the end of June as it faces a likely loss for the 2019 financial year.
The company said CEO Ross Sudano will leave "in the near term" and general manager of supply chain, strategy and innovation Dani Aquilina has been appointed acting CEO while it searched for a replacement.
In February, the Reject shop had said merchandising and operational changes would help it to a full-year profit of between $3.1 and 4.1 million, but on Thursday said the measures had fallen short and it now expected a loss of $1 to 2 million.