Administration
This coverage explores retail administrations and insolvencies within the UK market, examining the circumstances, decisions, and consequences for businesses, employees, and creditors. Reporting highlights notable cases, restructuring efforts, store closures, and leadership actions aimed at recovery or winding down. Designed for executives and managers, it offers insights into risk, resilience, and lessons from commercial failures.
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Jan- 2024 -29 JanuaryHigh Street
Retail accounted for 19% of 2023 UK administrations, study finds
The retail sector accounted for 19% of administrations in 2023 – the highest industry in the UK, according to analysis by full-service law firm Shakespeare Martineau. A total of 1,641 businesses, 239 of which came from the retail sector, filed for administration last year – marking a 22% increase compared…
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17 JanuaryHigh Street
Poundland to begin refurbishing 11 former Wilko stores
Poundland has announced it will begin a major makeover of 11 former Wilko stores in the next few weeks, after acquiring Wilko stores in the administration process. The first former Wilko stores to be refurbished will be located in Leigh, Peterlee and Ammanford, with the work due to be completed…
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15 JanuaryClothing & Shoes
Mango creates brand management division
Mango has announced the creation of a new brand management division in order to strengthen its executive leadership in all areas related to the company’s image, brand and customer experience. The new management division will be led by Blanca Muñiz, who will join the group as its new chief brand…
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11 JanuaryAnalysis
What went wrong with Wilko’s and who is next in 2024
As we begin the first quarter of 2024 much of the industry will be reflecting on the sector’s 2023 performance. For the majority, It was a tough year of trading. The question is what lessons have been learnt and how will the sector behave and perform this year. One of…
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Dec- 2023 -19 DecemberNews
Today’s news in brief
South Korean e-commerce giant Coupang has reportedly reached an agreement to acquire Farfetch in a $500m rescue deal. The transaction involves a bridge loan to Farfetch and negotiations with a group of debtholders holding a significant portion of Farfetch’s term loan. The London-based luxury retailer is expected to undergo acquisition…
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19 DecemberOnline & Digital
Whirli launches customer refund programme
Toy subscription service, Whirli, has launched a customer refund programme in a bid to “underline its commitment to customer satisfaction”. The news comes one year after the company relaunched under new family ownership. The newly-launched programme, which has been designed to provide credit for previously lost subscription fees, will invite…
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19 DecemberClothing & Shoes
Farfetch acquired by Coupang in $500m rescue deal
South Korean ecommerce group Coupang has agreed to acquire Farfetch, which had been seeking a rescue deal in recent weeks, The Financial Times has reported. The rescue deal, which also involves Greenoaks Capital Partners, will see Farfetch receive a $500m (£394m) bridge loan to help it continue operating. Coupang negotiated…
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4 DecemberNews
Nisa appoints new head of central operations
Nisa has announced that Michelle Scott-Jones has been promoted to become its new head of central operations. Scott-Jones joined Nisa in 1994 and successfully operated as administration manager and then support and planning manager until 2015. She was offered the position of business manager in trading support in 2019 –…
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1 DecemberNews
Today’s news in brief- 1/11/23
Matthew Moulding, the founder of THG, has acquired a 3.2% stake in Kelso Group, a shareholder critical of THG’s business leadership. Moulding’s investment of approximately £300,000 comes amid Kelso’s consistent claims that THG is undervalued, advocating for the separation of its divisions. Kelso, launched in 2022, raised £3m to invest…
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1 DecemberDepartment Stores
Frasers pulls out of SportScheck deal
Frasers has announced that it has pulled out of a deal to acquire SportScheck after the German sports retailer filed for administration. As a result of this move Frasers is now looking to acquire the firm in a pre-pack deal. The company stated that it has “exercised its right” to…
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