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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Sep- 2019 -20 SeptemberHigh Street
High Court rejects legal challenge against Debenhams CVA
The High Court has rejected the legal challenge against Debenhams proposed CVA, which was funded by Mike Ashley’s Sports Direct. The challenge was made by the Combined Property Control Group (CPC) – the landlord of six Debenhams stores in England as it argued the CVA was “designed to create a…
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16 SeptemberHigh Street
Clintons calls in KPMG as it mulls over potential sale
Greetings card retailer Clintons has called in advisers from KPMG as its owners explore a potential sale of the business. According to Sky News, its US-based parent company American Greetings is considering a sale just seven years after it acquired the company and forced it into administration. The ‘Big Four’…
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10 SeptemberHigh Street
Sports Direct among bidders for Links of London
Sports Direct is one of two final bidders attempting to buy jewellery brand Links of London from current owner Folli Follie (FF Group), according to reports from Sky News. FF Group appointed firms Deloitte and Savigny to find a buyer for Links in late August, after the brand pulled out…
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5 SeptemberOnline & Digital
Boohoo raises FY guidance after sales come in ‘ahead of expectations’
Online clothing retailer Boohoo has raised its full-year guidance after it reported sales for the first half of the year came in “ahead of expectations”. In a trading update Boohoo said that due to “strong” revenue growth driving operating leverage across its key brands it now anticipates group sales growth…
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3 SeptemberHigh Street
Sports Direct wants to ‘eliminate Debenhams as a competitor’, court hears
Sports fashion retailer Sports Direct is reportedly seeking to “eliminate Debenhams as a competitor” by funding a lawsuit which would push it back into administration, the High Court heard on Monday. At the court hearing, Debenham’s lawyer, Tom Smith QC, said the retailer believed Sports Direct was “backing the case…
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2 SeptemberHigh Street
Debenhams engages Deloitte for legal challenge against CVA
Debenhams has engaged ‘Big Four’ accounting and audit firm Deloitte in preparation to fight a legal challenge to its restructuring plan. In May, the retailer secured the backing from creditors to go ahead with a company voluntary arrangement (CVA), which earmarked 50 sites for closure and approved rent reductions at…
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2 SeptemberGovernment
Retail business rates could rise by £169m over the next 12 months
Retailers could see a £169m increase in business rates next year, prompting renewed calls for the government to overhaul the system. Calculations by real estate advisors Altus Group found gross business rates bills (including non-retail) for the financial year 2020/21 would increase by £662.15m in England, if the headline rate…
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Aug- 2019 -27 AugustLuxury Goods
FF Group searching for Links of London buyer
Links of London owner Folli-Follie Group (FF Group) has confirmed that it has appointed firms Deloitte and Savigny to the potential sale of the retailer. Last week Sky News reported that the group had been looking for a new owner, with sources telling the broadcaster it was “almost inevitable” a…
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20 AugustHigh Street
House of Fraser extends administration period to 2020
Embattled department store retailer House of Fraser (HoF) has had its administration period extended to 10 August 2020, after being approved by its creditors. According to a report by Drapers, documents on the process of the administration will be released later on this week by ‘Big Four’ accounting firm EY.…
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20 AugustHigh Street
Whittard of Chelsea CEO departs
Tea and coffee specialist Whittard of Chelsea’s chief executive Mark Dunhill has resigned, with finance chief Nathan Smith taking the role. Dunhill tended his resignation on 31 July after five years at the retailer. He led the restructure of the retailer, and was involved in the “revitalisation” of its product…
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