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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Mar- 2024 -14 MarchEconomy
Retail sees 14 closures a day as 5,000 stores vanish in 2023
High-profile retail restructuring and administrations have resulted in a net of 14 store closures a day during 2023, according to research from LDC and PwC, meaning that 5,000 fewer shops are currently trading across the country. The research has attributed the high volume of closures to the collapses of high…
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12 MarchClothing & Shoes
Hype co-founders resign
Leicester-based streetwear brand Hype has announced the departure of co-founders Liam Green and Bav Samani less than a year after its pre-pack rescue. Hype entered into administration on 31 March 2023 due to falling sales and tackling excess stock post-Covid. Carl Jackson and Kelly Mitchell of Quantuma Advisory were appointed…
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11 MarchNews
Today’s news in brief-11/3/24
Doug Putman, the owner of HMV, is reportedly contemplating a bid to acquire The Body Shop from its administrators. The Body Shop has encountered financial difficulties, including filing for bankruptcy in the US and Canada. This move follows the closure of numerous stores and job losses. Private equity firm Aurelius…
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11 MarchHigh Street
HMV owner considers Body Shop rescue bid
HMV owner Doug Putman is reportedly considering a bid to acquire the body shop from its administrators. According to The Telegraph, Putman has yet to table any formal offer but his interest has raised hopes that the firm may yet be saved. This news follows reports that The Body Shop…
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1 MarchNews
Today’s news in brief-1/3/24
The forthcoming £90m Oxford Street Programme is poised to generate up to £2.8bn in additional sales for London’s West End between 2027 and 2033, as indicated by the New West End Company. This initiative, supported by both public and private investments, aims to revamp Oxford Street’s public spaces, infrastructure, and…
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1 MarchHealth & Beauty
The Body Shop to close 75 stores and cut over 400 jobs
The Body Shop will close 75 more stores across the UK in the coming weeks, with 489 jobs set to be lost, according to administrators at FRP Advisory. The firm said it would “support all impacted staff with claims to the Redundancy Payments Service”. Some 116 stores will continue trading…
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Feb- 2024 -26 FebruaryHigh Street
Next mulls Body Shop rescue bid
Next has reportedly approached administrators with plans to acquire some of The Body Shop’s assets, according to Sky News. The news comes shortly after The Body Shop collapsed into administration, with administrators at FRP Advisory announcing they expected to close nearly half of The Body Shop’s 198 stores at the…
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22 FebruaryNews
Today’s news in brief-22/2/24
Taxpayers are expected to cover millions in redundancy payments for laid-off staff at The Body Shop as the company undergoes restructuring. The company’s administrators plan to close nearly half of its stores, affecting over 2,200 employees. Only staff with over two years of tenure qualify for redundancy pay, with payments…
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22 FebruaryHigh Street
Taxpayers to foot bill for Body Shop redundancies
Taxpayers are set to pay millions of pounds to laid off staff at The Body Shop as the restructuring of the collapsed chain gets underway, The Telegraph has reported. Employees who have lost their jobs have reportedly been told to make claims through the government-backed redundancy payments service, which is…
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20 FebruaryHealth & Beauty
The Body Shop to reduce store estate by almost half as part of restructuring
FRP Advisory has announced that it expects keep “more than half” of the The Body Shop’s 198 store open at the end of its restructuring plans amid news it is closing seven stores today (20 February) in a bid to secure the future of the retailer. After years of unprofitability…
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