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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Oct- 2020 -26 OctoberDepartment Stores
Debenhams bidders given midweek deadline for £300m rescue deal
Potential suitors for the embattled department store chain Debenhams have been given a midweek deadline to make a £300m rescue bid or walk away. According to the Sunday Times, bidders, which include Mike Ashley’s Frasers Group, have been told to make a binding commitment by the end of Wednesday by…
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26 OctoberHigh Street
Mike Ashley considers Jaeger bid
Mike Ashley’s Frasers Group is reportedly considering the acquisition of “heritage” fashion brands Jaeger, Austin Reed and Jacques Vert from Edinburgh Woolen Mill (EWM) Group, according to The Sunday Times. Phillip Day’s retail group has struggled in recent months, shutting down 50 stores last week, as part of its administration…
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22 OctoberClothing & Shoes
TM Lewin owner eyes Jaeger bid
The owner of menswear retailer TM Lewin is reportedly considering a bid for Phillip Day’s embattled retail brand Jaeger. According to Sky News, Torque Brands, the investment vehicle formed by businessman James Cox, is one of a small number of businesses which have expressed interest in acquiring the brand. Jaeger…
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16 OctoberClothing & Shoes
Edinburgh Woollen Mill to shut 50 stores, 600 jobs at risk
Phillip Day’s Edinburgh Woollen Mill Group (EWM) is reportedly set to shutter 50 of its stores, placing around 600 jobs at risk, as it begins its restructuring process. According to The Telegraph, the majority of the closures will take place in its Edinburgh Woollen Mill and Peacocks chains and will…
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Sep- 2020 -24 SeptemberDepartment Stores
Richest man in India interested in Debenhams acquisition
India’s richest man is reportedly one of the parties interested in making a bid to acquire Debenhams, according to Sky News. Ambani is the chairman and largest shareholder in Resilience Industries, the parent company of Reliance Retail which owns British toy retailer Hamleys. A number of parties, including Next and…
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21 SeptemberClothing & Shoes
Philip Day considering sale of Peacocks and EWM
Retail tycoon Philip Day is reportedly considering the sale of his retail chains Peacocks and Edinburgh Woollen Mill (EWM) and has appointed FRP to seek out interest in the businesses. According to the Sunday Times, Day appointed FRP after receiving an unsolicited enquiry for Peacocks last month. The two chains…
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14 SeptemberCoronavirus
Insolvent companies cost taxpayers £250m
Insolvent companies that were unable to pay their debts in the first six months of 2020 have cost British taxpayers almost £250m, according to Altus Group. The software group found that the amount paid to former members of staff was up by £133.79m in the period against the prior year,…
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7 SeptemberNews
Frasers Group slams Debenhams gagging order
Mike Ashley’s Frasers Group has accused senior Debenhams’ advisors of stopping the department store being financially saved due to a gagging order that prevents it from talking to landlords. In an interview with The Times, the group’s chief financial officer Chris Wotton revealed the group was not formally in sale…
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Aug- 2020 -24 AugustDepartment Stores
Debenhams owner calls in advisers for its own administration
The holding company of Debenhams, Celine Group Holdings, has appointed advisers to help prepare for its own administration. Celine confirmed that Philip James Watkins and Philip Lewis Armstrong of FRP Advisory have been appointed as administrators in respect of the company and its immediate parent company, Celine UK Newco 1…
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24 AugustSport & Leisure
Frasers Group buys DW Sports out of administration
Frasers Group has snapped up the assets of Dave Whelan Sports (DW Sports) from its administrators for a sum of £37m. According to the group, it has acquired certain assets relating to DW’s gym and fitness business, including certain stock but excluding the DW business names and IP. An additional…
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