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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Jul- 2019 -16 JulyHigh Street
Arcadia receives challenges on CVAs from US property group
Philip Green’s Arcadia has received a challenge from two legal entities of US property group Vornado, in relation to the company voluntary arrangements (CVAs) which were agreed last month. The retailer had all seven of its CVAs approved last month allowing it to restructure to avoid administration, more than 23…
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10 JulyAdvice
The impact of Brexit on the UK retail market
It’s no secret that the UK retail sector is facing a serious crisis, with the demise of several vendors including HMV, Toys R Us and LK Bennett a stark example of companies which have failed to stay afloat. But where did it all begin and what actions can retailers take…
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9 JulyHigh Street
M and G withdraws court action against Debenhams
Real estate company M and G Real Estate has withdrawn its court challenge against retailer Debenhams, helping the retailer restructure through company voluntary arrangements (CVA). M and G had originally disagreed with the CVAs, which would allow Debenhams to reduce rent leading to the real estate company filing a court…
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8 JulyHigh Street
Select owed creditors £53m after entering administration
Fashion retailer Select “owed creditors £53.1m” to landlords and the Her Majesty’s Revenue and Customs (HMRC) following the company’s administration in May. The retailer filed for administration in May, after it made a loss of £15.5m on sales of £117m in the 18 months to 2 December, according to accounts…
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Jun- 2019 -27 JuneDIY
Bathstore goes into administration putting 500 jobs at risk
Bathroom retailer Bathstore has appointed audit and business advisory firm BDO as administrators as the company attempts to be sold as a going concern. The retailer has 135 stores across the UK and employs 531 staff; it will continue to trade as normal. Ryan Grant, BDO business restructuring partner, said:…
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25 JuneHigh Street
EWM income rises after acquisitions
Retailer Edinburgh Woollen Mill (EWM) has announced a significant increase in revenue to £936m for the 18-month period to August 2018, compared to the 12-month period to February 2017, which included the purchase of Jaeger after it went into administration. The results, which were published on Companies House, also saw…
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24 JuneGovernment
Pensions Regulator boss to face questions over Arcadia deal
The Pension Regulator (TPR) boss, Charles Counsell is set to appear in front of the Work and Pensions Committee, regarding the settlement with Arcadia boss Philip Green last month. The agreement, saw Green pledge an extra £25m per year to its company pension fund for three years, while in return…
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19 JuneHigh Street
Mulberry swings to £5m loss in 2018
Handbag retailer Mulberry has reported losses before tax of £5m for the year ending 30 March 2019. Revenue decreased by £3.4m to £166.3m during the year, and the retailer said the disruption from the House of Fraser administration “materially affected” the group’s UK performance. Despite this, Mulberry saw revenues increase…
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17 JuneClothing & Shoes
US landlords file legal challenge against Arcadia CVA
A group of US landlords have filed a legal challenge against Philip Green’s Arcadia in light of the company voluntary agreements (CVAs) that were agreed last week, which will see its US subsidiary enter administration. According to The Sunday Times the group of property investment companies, led by Vornado, accuse…
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12 JuneHigh Street
Arcadia creditors approve CVA proposals
Retail group Arcadia, has announced that all seven of its company voluntary arrangements (CVAs) have today been approved by the required majority of the companies’ creditors, including its pension trustees, suppliers and landlords. The approval allows the retailer to restructure, closing around 23 stores, in a bid to prevent going…
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