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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Aug- 2020 -19 AugustComment
Security: The new experience shoppers are seeking in the ‘new normal’?
Retailers have been battling COVID-19 for months. Many traditional brick-and-mortar stores closed. Workforces were scattered — either furloughed or required to work from home. Meantime, online sales have provided a lifeline, as dramatic e-commerce spikes helped firms navigate these trying times. Now, with physical stores starting to reopen, more disruption…
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17 AugustHigh Street
Debenhams draws up contingency plans for potential liquidation
Debenhams has reportedly drawn up contingency plans in the event of a potential liquidation, as it continues to weather the Covid-19 pandemic. According to a report by Sky News, it is understood that Debenahmans has drafted in Hilco Capital to support the retailer if the sales process for the 242-year-old…
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17 AugustSport & Leisure
Mike Ashley’s Frasers Group makes £30m bid for DW Sports
Mike Ashley’s Frasers Group has reportedly made a takeover bid for former rival Dave Whelan’s DW Sports. According to the Sunday Times, Frasers Group has offered £30m to administrators BDO for the DW estate, which comprises 73 gyms and 75 stores. It is also thought that BDO was looking for…
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14 AugustHigh Street
River Island set to axe 350 jobs
River Island is reportedly set to axe almost 350 store management and sales roles as it continues to weather the coronavirus pandemic. According to an internal memo sent to staff, which was seen by Drapers, CEO Will Kernan said: “We are now in the process of restructuring our retail teams…
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10 AugustHigh Street
Baird Group launches CVA proposal
Baird Group has launched a Company Voluntary Arrangement (CVA) proposal in order to safeguard the “long-term future” of the group. The group, whose portfolio includes Ben Sherman and Suit Direct, worked with KPMG’s Restructuring practice to review “all options” available to address the challenges presented by the pandemic. As a…
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6 AugustShopping Centres
Hammerson seeks £825m to ride pandemic
Shopping centre owner Hammerson has announced it plans to raise £825m through fundraising and disposals as it looks to survive the impact of the coronavirus pandemic. The announcement comes as Hammerson reported that net rental income dropped by 44% to £87.3m during the first half of the year. For the…
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5 AugustCoronavirus
River Island considering CVA as Covid-19 hits sales
Fashion retailer River Island is reportedly considering a CVA proposal as it attempts to weather the coronavirus pandemic. According to Retail Week, River Island is considering launching a CVA proposal or another form of administration in order to reduce rents or close some of its stores that have seen lower…
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4 AugustHealth & Beauty
DW Sports falls into administration, 1,700 jobs at risk
DW Sports has collapsed into administration, placing around 1,700 jobs at risk. BDO announced that its restructuring partners, Graham Newton and Ryan Grant, were appointed joint administrators of the sportswear and fitness company on 3 August 2020. The group currently operates 50 retail sites and 73 gyms across the UK,…
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3 AugustCoronavirus
Hammerson taps investors for cash
Hammerson has confirmed that it is holding advanced discussions regarding a possible disposal of a stake in a European arm of its business, after suffering from unpaid rents amid the coronavirus crisis. The shopping centre landlord is now looking to sell a 50% stake in VIA Outlets to joint venture…
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Jul- 2020 -27 JulyDepartment Stores
Debenhams seeks potential buyer
Debenhams has confirmed that administrators are considering its sale to a third party in a bid to lead the business out of its current administration. According to The Guardian, the department store group has now appointed investment bank Lazard to oversee the sale process, and “hopes to secure a buyer…
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