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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Jul- 2018 -3 JulyGovernment
FRC launches investigation into KPMG’s last Conviviality audit
The Financial Reporting Council (FRC) has launched an investigation into the most recent audit by KPMG of the financial statements of Conviviality. The FRC is investigating the audit of the now defunct off-licence retailer that covered the 52 weeks ending 30 April 2017. The investigation will be conducted under the…
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Jun- 2018 -21 JuneHigh Street
EXCLUSIVE: Poundworld confusion as staff memo casts doubt on ‘closing down’ sale
Store managers at Poundworld are preparing to promote a ‘closing down’ sale, despite a staff memo circulated yesterday which cast doubt on whether any stores will actually shutter. The memo, which was written by administrators at Deloitte, and which a Poundworld spokesperson told Retail Sector had been circulated as an…
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18 JuneClothing & Shoes
Calvetron Brands to shut 102 Jacques Vert and Precis concessions
Benjamin Wiles, Trevor Birch and Philip Duffy of Duff & Phelps, joint administrators to Calvetron Brands, have announced they are serving notice on 102 Jacques Vert and Precis concessions in the UK and Republic of Ireland. These closures and those announced previously, including Dash and Eastex closures made on 4…
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11 JuneClothing & Shoes
Henri Lloyd enters administration with 31 stores set to close
Henri Lloyd has announced it has entered administration which will see 31 stores close and a large amount of jobs at risk. RSM, Henri Lloyd’s administrators blamed “challenging trading conditions on the High Street” for the waterproof clothing company’s demise. House of Fraser, who have suffered retail struggles of their…
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11 JuneHigh Street
Poundworld rescue talks collapse putting 5,000 jobs at risk
Poundworld is expected to appoint administrators today after last-ditch rescue talks collapsed leaving over 5,000 jobs at risk. The discount retailer’s talks with potential buyer R Capital have collapsed only days after a deal with another investor, Alteri Investors, was also scrapped. This has led to its owner’s American equity…
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Apr- 2018 -24 AprilHigh Street
650 retail stores have closed in 2018 so far
Nearly 650 retail stores and restaurants have shut or are at risk of closure since the start of 2018. According to analysis by BBC 5 live’s Wake Up to Money Maplin and Toys R Us sites accounted for half of the total closures, as both chains fell into administration on…
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24 AprilHigh Street
300 jobs lost as East poised to stop trading next week
Fashion retailer East is to stop trading next week after administrators were unable to find a buyer, with 300 employees to be made redundant. According to reports, East will cease trading on 4 May after administrators at FRP Advisory were unable to find a buyer despite receiving at least three…
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9 AprilHigh Street
Bestway acquires Conviviality retail brands
Bestway Wholesale has completed the purchase of Conviviality’s retail brands, in a deal closed at 11.56pm on Friday (6 April). In the £7m deal, the wholesaler acquired the Bargain Booze, Wine Rack, Select Convenience and WS Retail chains, saving 2,000 jobs. Matthew Callaghan, partner at PwC, said: “This deal safeguards…
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5 AprilAdvice
Embracing advanced, real-time analytics
The last few months have presented a challenge for traditional bricks-and-mortar retailers in the UK. High street sales have continued to struggle in a difficult trading environment, leading to a number of high-profile retail casualties – notably companies such as Toys R Us and Maplin. All UK Toys R US…
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5 AprilHigh Street
Conviviality goes into administration
Drinks retailer and wholesaler Conviviality has filed for administration just a day after selling its wholesale business. Administrators PwC released a statement which read: “Matthew Callaghan, Ian Green and David Baxendale of PwC have today been appointed as joint administrators to Conviviality Plc. “Conviviality Plc continues to engage with parties…
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