This might be the ultimate financial faux pas.

The publicly-traded British retailer SuperGroup announced Wednesday it booted out its chief financial officer after discovering the executive recently went bankrupt.

The company, which operates over 135 Superdry clothing stores across the U.K. and Europe, said the board only became aware of the bankruptcy two weeks after the fact. The exec was kicked out within 24 hours of the discovery.

Shaun Wills was appointed to the CFO position in April 2012. He was previously the chief operating officer at furniture retailer Habitat.

Wills did not return a request for comment from CNNMoney.

Shares in SuperGroup dropped by 3% in London, though the firm was quick to point out that its finances are in order.

"This is a personal matter ... and is wholly unrelated to the financial position of the company," the company said in a statement.

Superdry sells a wide range of casual clothes, including shirts, jackets and knitwear. Japanese imagery and lettering are frequently incorporated into Superdry designs, so the British firm is often incorrectly perceived to be a Japanese company.