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.
-
May- 2022 -9 MaySupermarkets
Morrisons close to winning control of McColl’s amid last-ditch bid
Morrisons is thought to have won control of embattled retailer McColl’s after surpassing EG Group in a last ditch effort, according to Sky News. A deadline was set for 18:00 BST on Sunday for final bids, with EG Group thought well positioned for the purchase until Morrisons final hour bid.…
Read More » -
6 MaySupermarkets
McColl’s collapses into administration, 16,000 jobs at risk
McColl’s has collapsed into administration in a move that places 16,000 jobs at risk, after lenders failed to extend its banking agreements. In a newly released statement, the retailer said it was “regrettably left with no choice” other than to appoint PwC as administrators, with the expectation that they intend…
Read More » -
6 MaySupermarkets
McColl’s collapse ‘increasingly likely’, 16,000 jobs at risk
McColl’s has warned that it is “increasingly likely” that the group will collapse into administration, in a move that could place 16,000 jobs at risk. The group’s statement, which came in response to recent press speculation, said a third-party buyer would be sought if it was placed into administration, adding…
Read More » -
Apr- 2022 -8 AprilClothing & Shoes
TM Lewin lender to rescue brand from administration
An investment vehicle owned by Petra Group has reportedly reached a deal to acquire TM Lewin after it collapsed into administration for the second time last month. According to Sky News, the lender to TM Lewin reached an agreement with Interpath Advisory to buy out the menswear brand, with sources…
Read More » -
1 AprilNews
The Sofa Workshop ceases trading
The Sofa Workshop has collapsed into administration and has appointed Toby Banfield, David Baxendale and Zelf Hussain of PwC as administrators. The company, a mid-market UK upholstery retailer, has 16 stores across the UK. Despite achieving “significant” revenues, these have been outweighed by trading losses, especially in light of Covid-related…
Read More » -
Mar- 2022 -31 MarchEconomy
UK GDP rebounds 1.3% in Q4 FY21
The UK’ gross domestic product (GDP) is estimated to have increased by 1.3% in the fourth quarter (Q4) of 2021 between October to December, meaning UK GDP is now 0.1% below pre-Covid levels. Annual GDP in 2021 is now estimated to have increased by a revised 7.4% compared to the…
Read More » -
25 MarchNews
Prada makes three new appointments to management team
The Prada Group has announced three “strategic” appointments to its “top” management team. It revealed Andrea Bonini has been appointed as chief financial officer, Cristina De Dona has been named general counsel, whilst Diego Maletto is the retailer’s new internal auditing director. Starting from May 2 2022, Bonini will take…
Read More » -
18 MarchClothing & Shoes
T.M. Lewin calls in administrators for second time in two years
T.M. Lewin has collapsed into administration for the second time in two years as trading continued to be impacted by the effects of the pandemic. The menswear retailer confirmed that Will Wright and Chris Pole from Interpath Advisory have now been appointed as the latest joint administrators to the group. …
Read More » -
15 MarchSupermarkets
Aldi offers employment to refugees from Ukraine
Aldi has announced it is welcoming applications from Ukrainian refugees with over 8,000 roles available, subject to their eligibility for UK employment. The vacancies span a range of roles including assistant store manager, store assistant, stock assistant, selector, logistics assistant, as well as other office-based administration roles. Overall, Aldi has…
Read More » -
9 MarchNews
A reshaping of town centres
“The last two years have been tumultuous for retailers but the closures we’ve seen are an acceleration of what was happening before the pandemic,” says Lisa Hooker, consumer markets lead at PwC. The accounting firm recently published a report monitoring the openings and closures of large-chain highstreet operators. It concludes…
Read More »
