Fashion and beauty website Never Underdressed closed on Wednesday.

Shortlist Media announced that the title, launched digitally 13 months ago with a focus on glossy appeal and luxury values, did not have a large enough following to secure its future. 

Mike Soutar, chief executive said: "Despite having met all its advertising targets in the first year, Never Underdressed was unable to secure a sufficiently large audience to sustain it as a business in the long term.

"The decision to close has not been taken lightly. We carried out an extensive examination of issues facing the site, but could not see a viable future for the luxury product we’ve all been so proud of since its inception. Rather than reposition Never Underdressed into something unrecognisable we are acting now to stem its losses."