Administrators
This coverage explores the pivotal role of administrators in the UK retail landscape — from corporate restructuring and insolvency proceedings to business recovery and turnaround strategies. Retail Sector reports on high-profile administrations, creditor processes, and store closures affecting major retail brands, high streets, and shopping centres. Coverage also includes expert analysis of the financial, operational, and legal factors that lead to administration, as well as insights into how these events reshape competition, employment, and supply chains across the sector. Our editorial provides professionals with the context and intelligence needed to navigate financial distress and transformation within the retail market.
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Aug- 2018 -6 AugustDepartment Stores
House of Fraser able to proceed with store closures after legal row ends
House of Fraser has settled its legal row with landlords meaning it can proceed with plans to close 31 of its 59 stores. Landlords had previously argued that slashing rents to support the department store’s rescue plan was unfair. The department store said it was “focused on concluding discussions with…
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Jul- 2018 -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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19 JulyHigh Street
Poundworld distribution centres for the chopping block
The administrators of Poundworld, Deloitte, have announced that the retailer’s distribution centre operations will be closing on Friday 20 July. They also announced the closure of a further 78 stores, which will see 907 employees lose their jobs when the stores shutter on either Thursday 26 July or Sunday 29…
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17 JulyHigh Street
Another 40 Poundworld stores to shutter
The administrators of Poundworld, Deloitte, have announced yet another wave of store closures bringing the total number of shuttered stores to 145 so far. The latest closure of 40 stores will result in redundancies for 531 employees when the properties shut on Tuesday 24 July 2018. The news follows the…
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13 JulyHigh Street
Poundworld to shutter a further 80 stores
The administrators of Poundworld, Deloitte, have announced a further 80 store closures, in addition to the closure of 25 stores announced on 10 July 2018. The shuttering of these 80 stores will be phased from Friday 20 July to Sunday 22 July, reducing the number of open stores to 230.…
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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 JulyEconomy
Poundland founder prepares Poundworld bid after Chris Edwards pulls out
The founder of Poundland, Steve Smith, is preparing a bid for embattled rival Poundworld after Chris Edwards, the latter’s founder, withdrew his bid for the company. A Press Association release said Smith was in early-stage talks with Deloitte, however the administrators declined to comment when contacted by Retail Sector. Smith…
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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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3 JulyHigh Street
Deloitte hits back at Poundworld founder over rescue bid row
Deloitte has hit back at accusations made by Poundworld founder Chris Edwards over the handling of the company’s administration. A statement circulated by Edwards yesterday said “the whole administration process has been handled badly” and he added if something doesn’t happen in the next few days, “the business will go…
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