The company, which is behind the fashionable SuperDry brand, says the decision was prompted by changes to the UK corporate governance code and EU regulation which require audit tendering and rotation.

PwC was originally appointed by a competitive tender process to the SuperGroup legacy companies in 2008.  According to the company’s 2016 annual report, the firm received a total of £886,000 in 2016, of which £430,000 was for audit fees and £436,000 for non-audit services. The previous year PwC was paid a total of £500,000 (£300,000 in audit fees and £200,000 in non-audit fees).

In a statement SuperGroup said: ‘The board would like to thank PwC for its significant contribution as the Group's auditors since their appointment in 2008 and also the other firms who took part in the tender.  SuperGroup looks forward to working with Deloitte in the future.’

The fashion retailer is the second PwC audit to pass over to Deloitte, which has also picked up the audit at consumer products group PZ Cussons.