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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May- 2024 -24 MayNews
Today’s news in brief-24/5/24
In April, retail sales volumes dropped by 2.3% following a 0.2% decline in March, primarily due to ongoing wet weather, as reported by the Office for National Statistics (ONS). Non-food stores experienced a significant 4.1% fall, equalling the largest drop since January 2021, with clothing, sports equipment, and furniture retailers…
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24 MayClothing & Shoes
Ted Baker shuts down US stores and website
Ted Baker has reportedly shut down its North American-based stores and website after falling into administration. It is believed that 31 of its US stores and nine of its Canada-based stores are set to close, and both areas can no longer shop on the brand’s website. On 19 March, restructuring…
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22 MayNews
Superdry announces restructuring measures to avoid administration
Superdry has revealed its capital and restructuring measures to avoid running an emergency four-week sale process. Earlier in April, the struggling retailer had announced it was launching a restructuring plan which would principally involve a restructuring of its UK property estate and retail cost base. Now the retailer has revealed…
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21 MayHigh Street
The Works expects return to profit amid cost-cutting plans
The Works is anticipating a return to profit in its new financial year, having reported flat sales for FY24, following its relisting to AIM and further cost-cutting measures. In its latest trading update for the year ended 5 May 2024, revenues inched up by 0.9% to £282.6m, while total like-for-like…
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17 MayNews
Today’s news in brief-17/5/24
Asos is set to enter the Indian market through a new long-term partnership with Reliance Retail, marking Asos’ first country-wide exclusive retail partnership. Reliance Retail will manage the exclusive retail presence of Asos’s brands both online and offline across India, utilising various retail formats including exclusive brand stores and digital…
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17 MayClothing & Shoes
Under Armour revenues slip 3% to $5.7bn in FY24
Under Armour revenues slipped 3% to $5.7bn (£4.5bn) for the financial year ended 31 March. North America revenue decreased 8% to $3.5bn (£2.7bn), while international revenue increased 8% to $2.2bn (£1.7bn). Within the international business, revenue increased 9% in EMEA, 6% in Asia-Pacific, and 8% in Latin America. Wholesale revenue…
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8 MayNews
Today’s news in brief-8/5/24
Boohoo posted widened losses of £159.9m for the full year due to challenging market conditions and a strategic focus on profitability. Despite a 17% decline in revenues, the group saw improvements in core brand performance and growth within the Debenhams marketplace. Boohoo remains committed to leveraging efficiencies and driving profitability…
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8 MayDIY
Carpetright announces restructuring, 70 jobs at risk
Carpetright has announced restructuring plans across a number of departments to “better support regional stores and digital plans”. A staff reduction of just over 25% will affect the company’s central support centre and field management teams leading to approximately 70 job losses. The company stated that this reduction in central…
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Apr- 2024 -29 AprilNews
Today’s news in brief-29/4/24
Ted Baker’s European operations are on the brink of administration, endangering 149 jobs. The potential collapse affects stores and concessions in the Netherlands, Belgium, and Spain. This development follows the appointment of restructuring firm Teneo as administrator of Ted Baker by its owner, Authentic Brands Group, after a £210m acquisition…
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29 AprilClothing & Shoes
Ted Baker’s European arm faces collapse, 149 jobs at risk
The European arm of Ted Baker is reportedly at risk of entering administration with 149 roles at risk.According to Drapers, businesses operating the retailer’s bricks-and-mortar stores in the Netherlands, Belgium and Spain are at risk of entering administration. The process is reportedly dependent on each of the country’s systems. The…
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