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- 2018 -7 AugustHigh Street
Poundworld founder Chris Edwards says retailer was ‘badly managed’ by TPG
Chris Edwards, the founder of collapsed bargain retailer Poundworld, has criticised its owners TPG claiming they “badly managed” the chain. Poundworld’s remaining stores are all set to close by 10 August after it fell into administration on June 11. Private equity firm TPG attributed the collapse to a change in consumer…
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2 AugustEconomy
Over half of UK businesses braced for revenue drop due to Brexit
Over half of UK businesses believe Brexit will trigger a drop in revenue in 2019 according to new research by business intelligence and analytics solutions provider, MHR Analytics. The findings were published in the firm’s new report ‘Business Insight: The Data Surge’ which contains detailed polling of 200 senior decision-makers…
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Jul- 2018 -20 JulyGovernment
Inquiry into BHS directors could be reopened
The inquiry into the former directors of BHS could be reopened following the discovery of new information by the Financial Reporting Council (FRC), Retail Sector has learned. The chief executive of the Insolvency Service Sarah Albon, requested more information from the FRC regarding the conduct of the retailer’s directors. The…
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20 JulyHigh Street
Poundworld to shutter all remaining stores
Poundworld will close all 190 remaining stores by 10 August after administrators Deloitte failed to find a buyer for the business at a price which satisfied them. A total of 2,339 staff will be affected in this final wave of store closures, and the firm announced yesterday that all distribution…
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16 JulyEconomy
The Works to open 50 stores per year and plans to IPO
Discount retailer The Works has unveiled plans to float on the London Stock Exchange and open 50 new stores each year, as it defies falling high street footfall. The Works is planning a £100m listing on the stock market which will give management and shareholders a £36.7m payout. Along with…
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10 JulyHigh Street
Deloitte announces first wave of Poundworld store closures
Deloitte, which is handling the administration of Poundworld, has announced the closure of 25 stores resulting in around 242 staff redundancies. Administrators said the decision will not impact on the potential sale of the remaining business, which will include a significant number of stores, the head office and distribution centre.…
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10 JulyProperty
Retail property value sees biggest drop in six years
The value of UK retail properties fell by 0.8% in June, the biggest monthly fall since May 2012. According to figures released by real estate company CBRE, in June UK high street shops’ capital values dropped by 1.3% while shopping centres saw a decrease of 1.1%. CBRE’s Monthly UK Index…
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9 JulyHigh Street
Mothercare adds 10 store closures to CVA after Childrens World administration
Mothercare has earmarked another 10 stores for closure as part of its CVA bringing the total to 60 stores, after the group’s Childrens World division entered administration. The new store closures mean that up to 900 jobs will be lost by June 2019. The news comes after the CVA proposal…
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6 JulyHigh Street
Poundworld founder urges ‘moral argument’ after administrators reject rescue bid
A rescue bid offer made by Poundworld founder Chris Edwards has been been rejected by appointed administrators Deloitte, who say it is not high enough. On 3 July a Deloitte spokesperson said the group was continuing “to seek a buyer of all or parts of the business”, but added to…
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4 JulyClothing & Shoes
Calvetron Brands to close remaining concessions
The administrators of Calvetron Brands, parent company of Jacques Vert and Precis, has served notice on the remaining concessions in the UK, Republic of Ireland and Canada. Benjamin Wiles, Trevor Birch and Philip Duffy of Duff & Phelps, were appointed joint administrators in May and the company made the decision…
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