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.
-
Oct- 2023 -9 OctoberDepartment Stores
House of Fraser could disappear from high street, CEO warns
House of Fraser stores could disappear from the high street altogether, as Frasers plans to pivot away from the traditional department store model, CEO Michael Murray has told the Telegraph. Murray said the House of Fraser brand could disappear altogether, adding that the “future vision is that House of Fraser…
Read More » -
6 OctoberFeatures
How Poundland repurposed 10 Wilko stores in two weeks
The biggest story in retail over the last few weeks has undoubtedly been the struggles and eventual collapse of Wilko. The company fell into administration in August and just a month later it was announced that all of its stores would be closing. As a result, two of its rivals…
Read More » -
2 OctoberOnline & Digital
AHK Designs acquires Victoria Plum
AHK Designs, owner of e-commerce retailers such as Beds.co.uk and Cox and Cox, has acquired bathroom seller Victoria Plum, according to Sky News. The news comes after people close to the business told Sky that inflation in global freight costs and pressure on consumer spending had impacted profitability and cash…
Read More » -
Sep- 2023 -12 SeptemberHigh Street
Poundland acquires up to 71 Wilko stores
Poundland owner Pepco Group has announced today (12 September 2023) that it has agreed with PwC to take control of up to 71 Wilko store leases. Lease assignments are expected to be completed in early Autumn, enabling these stores to join Poundland’s existing 800-plus UK estate and trade through the…
Read More » -
11 SeptemberHigh Street
HMV owner fails with Wilko rescue deal
A rescue deal for collapsed high street retailer Wilko which could have saved thousands of jobs has failed after HMV owner Doug Putman pulled out of the deal due to rising costs. Putman had reportedly planned to keep up to 300 stores, however it is thought that the deal was…
Read More » -
5 SeptemberHigh Street
Wilko to axe 1,300 jobs and close 52 stores
Wilko is set to close 52 stores and make 1,300 redundancies across the business as rescue talks for the retailer continue, its administrator confirmed today. Earlier today, PwC confirmed that it has agreed to provide B&M with the option to acquire up to 51 properties, after the administration trading period…
Read More » -
5 SeptemberHigh Street
B&M eyes Wilko deal as Putman offer falters
B&M could reportedly be in line to acquire a number of Wilko stores after rescue talks with HMV owner Doug Putman hit difficulties this week. According to Sky News, B&M could acquire around 50 Wilko shops, with industry sources adding that Wilko’s administrators could soon announce the first round of…
Read More » -
4 SeptemberHigh Street
HMV owner secures creditor backing for Wilko rescue deal
Administrators to Wilko have reportedly secured the backing of creditors for a rescue deal led by HMV owner Doug Putman in a move that could save around 8,000 jobs. According to The Sunday Times, PwC is understood to have secured support from the Pension Protection Fund as well as other…
Read More » -
Aug- 2023 -31 AugustHigh Street
Wilko redundancies to begin as rescue talks collapse
Hundreds of redundancies are set to begin at Wilko after last-minute rescue talks with potential buyers fell through, its administrator has confirmed. In a statement released today (31 August), PwC confirmed that 269 support centre employees will now be made redundant, effective from close of business on Monday (4 September),…
Read More » -
31 AugustHigh Street
Former Debenhams staff win legal battle against retailer
More than 400 former Debenhams staff who lost their jobs after the company went into administration have won a legal battle against the business after a tribunal judge ruled that the retailer had failed in its duty to consult with its staff. As a result, lawyers representing the workers said…
Read More »
