Restructuring
Restructuring in the UK retail sector involves the strategic changes retailers make to strengthen their financial position, streamline operations, and adapt to evolving market conditions. Retail Sector provides comprehensive coverage of restructuring activity, including breaking news on administrations, CVAs, and refinancing deals, alongside expert analysis of the operational and strategic implications. Our reporting helps retail executives, store owners, ecommerce leaders, and supply chain professionals understand how these developments impact the wider retail landscape, offering insights into recovery plans, leadership decisions, and business transformation across physical and digital channels.
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Jun- 2024 -17 JuneClothing & Shoes
Superdry shareholders vote in favour of restructuring plan
Superdry has announced that its shareholders have voted in favour of its restructuring plan. The news comes after the group’s creditors also approved its proposed equity raise of £10m and delisting last week. The plan will involve rent reductions at 39 stores, delisting from the stock market and an equity…
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14 JuneClothing & Shoes
Wolford appoints new chief executive
Wolford has announced that Regis Rimbert has been appointed as the group’s new chief executive, succeeding Silvia Azzali. Rimbert has more than 20 years of leadership experience across the fashion and luxury sectors, spearheading transformative initiatives in retail, online, and international operations. Wolford said that with “pivotal roles at renowned…
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13 JuneNews
Today’s news in brief-13/6/24
Singapore-based fashion retailer Shein has raised prices by over a third on core items to boost revenue ahead of its anticipated IPO on the London Stock Exchange. Coresight Research estimates Shein’s revenue will reach $50bn this year, a 55% increase from last year. The company’s price hikes have outpaced competitors…
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12 JuneNews
Today’s news in brief-12/6/24
The UK economy stalled in April 2024, showing no growth after a 0.4% increase in March, as wet weather significantly dampened consumer spending, according to the Office for National Statistics. Services output did rise by 0.2% for the fourth consecutive month and grew by 0.9% over the three months to…
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12 JuneClothing & Shoes
Superdry creditors vote through restructuring plan
Superdry has revealed that its creditors have voted overwhelmingly in favour of its restructuring plan. The company stated 99% of its creditors voted for the plan which now only requires shareholder approval. The plan will involve rent reductions at 39 stores, delisting from the stock market and an equity raise…
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3 JuneNews
Today’s news in brief-3/6/24
Shein is reportedly preparing for a landmark London flotation valued at £50bn, marking the city’s most significant public float in over a decade. Sources indicate that the fast-fashion giant will soon file a prospectus with the Financial Conduct Authority, although the exact timing remains uncertain. This move comes after Shein…
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3 JuneClothing & Shoes
Superdry landlord drops challenge to restructuring proposal
M&G, landlord of Superdry’s London flagship store, will not formally seek to block a restructuring proposal, Sky News has reported. It is understood that Superdry received a reprieve after M&G backed down from a challenge to the struggling fashion chain’s rescue plan. As a result, M&G has decided not to…
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May- 2024 -30 MayNews
Today’s news in brief-30/5/24
Marks & Spencer (M&S) has appointed Alison Dolan as its new chief financial officer, succeeding interim CFO Jeremy Townsend, who will remain until May 2025. Dolan, currently the CFO at Rightmove, brings extensive experience from roles at News UK and Sky. M&S CEO Stuart Machin praised Dolan’s background in fast-paced,…
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30 MayHigh Street
Clarks falls to £40m loss
Clarks has revealed that it posted a loss of £39.8m for the year ended 31 December 2023, down from a profit of £35.9m in 2022. The company has put this down to a number of one-off costs in 2023 including £4.6m on restructuring. This also includes a £3m increase in…
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28 MayHigh Street
M&S and Next eye The Body Shop rescue deal
Both M&S and Next are reportedly considering launching rescue bids for the embattled retailer The Body Shop, as administrators get ready to launch an auction process. According to The Times, administrators FRP Advisory are reportedly “encouraged” after the high street firms expressed early interest in The Body Shop. The outlet…
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