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 -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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19 FebruaryFeatures
Why are many big brands going into administration?
2023 has been a tough year for the United Kingdom’s economy — and economic challenges have widely been echoed particularly in the retail sector, with profile retail giants such as Wilko going bust after efforts to rescue the company failed. In the footsteps of last year’s events, it appears that…
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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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