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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Feb- 2024 -19 FebruaryPeople Moves
Aurelius MD behind Body Shop buyout exits group
A dealmaker from Aurelius who helped lead its private equity takeover of The Body Shop has abruptly left the group only three months after the deal, The Telegraph has reported. Peter Wood, who had held the position of managing director at the asset management company, reportedly faced criticism over the…
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16 FebruaryNews
Today’s news in brief-16/2/24
In January 2024, the UK experienced a significant rebound in retail sales, rising by 3.4% following a 3.2% decline in December. This surge, the largest since April 2021, comes amidst continued inflation, with prices increasing by 4% in January. Despite the rise in prices, consumer spending increased by 3.9%, indicating…
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7 FebruaryNews
Today’s news in brief-7/2/24
Amazon’s Luxury Stores in Europe have partnered with resale platform Hardly Ever Worn It to offer pre-owned luxury items across various categories. This collaboration aims to provide customers in the UK, Germany, Spain, and Italy with access to high-quality, designer goods that have hardly been worn. Hardly Ever Worn It…
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7 FebruaryHealth & Beauty
Estée Lauder to cut up to 3,100 jobs amid global sales decline
Estée Lauder has announced a restructuring programme, which will see the group cut up to 3,100 jobs across its global workforce, as net sales fell 7% to $4.28bn (£3.39bn) for the second quarter ended 31 December 2023. According to the group, the restructuring programme will go hand-in-hand with a further…
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5 FebruaryNews
Today’s news in brief-5/2/24
Authentic Brands, the owner of Ted Baker, is reportedly exploring cost-saving options after terminating its relationship with AARC, the company responsible for Ted Baker’s UK operation. The potential measures include store closures, job cuts, or a Company Voluntary Agreement (CVA) to reduce rent rates or exit stores. Authentic had provided…
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5 FebruaryClothing & Shoes
Superdry founder in talks with investors over take-private deal
Superdry CEO and co-founder, Julian Dunkerton, is reportedly in talks with investors as he eyes a takeover deal that could see the London-listed fashion retailer become private, Sky News has reported. According to Sky, Dunkerton has held discussions with Gordon Brothers, which owns Laura Ashley, and Rcapital, which previously owned…
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5 FebruaryClothing & Shoes
Ted Baker owner mulls CVA amid UK operator split
Authentic Brands, the owner of Ted Baker, is reportedly considering a number of cost saving options after terminating its relationship with AARC, the firm that runs its UK operation. According to The Telegraph, Authentic Brands is close to appointing restructuring experts to implement measures which could include store closures, job…
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2 FebruaryEconomy
Two in five FTSE retailers issued profit warnings last year
The percentage of UK-listed companies issuing profit warnings last year hit 18.2%, exceeding the levels seen at the peak of the financial crisis in 2008, according to new findings from EY. In particular, the rate of profit warnings remained high for FTSE retailers, with two in every five FTSE retailers…
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Jan- 2024 -30 JanuaryNews
Today’s news in brief- 30/1/24
Online marketplace Secret Sales has appointed Anthony Farrow as its new Chief Technology Officer. Farrow, with 23 years of experience working with global fashion brands, will focus on advancing AI and emerging technologies to enhance the platform’s efficiency. His role involves implementing serverless architecture, refining search capabilities, and integrating AI-driven…
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30 JanuaryOnline & Digital
Studio Retail swings to full-year profit following Frasers takeover
Studio Retail has welcomed a pre-tax profit of £12m in the year ended 30 April, 2023, up from a £75.7m loss the prior year, following its acquisition by Frasers Group. According to new filings from Companies House, while full-year revenues fell from £424.4m to £330.2m, it has “actively taken action…
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