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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Jul- 2023 -19 JulyClothing & Shoes
Hotter Shoes rescued through Woolovers deal
The future of footwear retailer Hotter Shoes has been secured following a sale of the business to Woolovers Group. Will Wright and Rick Harrison from Interpath Advisory were appointed joint administrators of Beaconsfield Footwear Limited, trading as ‘Hotter Shoes’, on 18 July 2023. Headquartered in Skelmersdale, the company is a…
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17 JulyClothing & Shoes
Hotter Shoes owner confirms intention to appoint administrators
Hotter Shoes owner, the Unbound Group, has confirmed its intention to appoint administrators to its main subsidiary after it was unable to raise £2m to support a restructuring plan. In an announcement, the group said it has concluded that it is required to take the “necessary steps” to preserve value…
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12 JulyClothing & Shoes
Hotter Shoes seeks funding to avoid administration
Clothing company Unbound Group, the owner of Hotter Shoes, is reportedly looking to secure £2m in emergency funding in an attempt to avoid falling into administration, according to Sky News. On 27 June in a stock exchange announcement Unbound Group said it had terminated a formal sale process for the…
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3 JulyNews
Retail insolvencies rise by 56% to record high
The number of retail business insolvencies jumped 56% in the past year to hit 1,942, up from 1,243 in 2021/22, and the highest levels in at least a decade, new research from international law firm RPC shows. Despite the challenges faced by the sector, the insolvency of financially weaker retail…
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Jun- 2023 -28 JuneNews
Unbound Group ends sales process after failure to secure offers
Unbound Group, owner of Hotter Shoes, has closed its sales process after receiving no potential offers capable of obtaining shareholder and stakeholder support. The group previously launched a strategic review and formal sales process on 19 May to consider the options available to maximise the company’s value, among which the…
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23 JuneClothing & Shoes
Unbound Group eyes restructuring plan as sale hopes falter
Unbound Group, the owner of Hotter Shoes, is reportedly mulling plans to commence a restructuring process as hopes of a sale of the business have stalled. According to Sky News, the group has now called on advisers at Interpath to prepare for an emergency restructuring plan, which would require court…
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20 JuneSport & Leisure
Peloton UK losses widen to £210m
The UK arm of Peloton has announced losses of £210m for the year ended 30 June 2022, nearly double the £81m loss it posted last year. Furthermore, the company saw a 13% decrease in turnover from £147m down to £128m. Peloton attributed the decrease in turnover down to slowing sales…
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19 JuneHigh Street
Wilko landlords could face no rent for three years under CVA
Some landlords of Wilko stores could reportedly receive no rent for three years, as the chain looks to make drastic cost cuts ahead of a restructuring vote. According to the Sunday Times, it comes as Wilko is looking to slash its rent bill as part of its CVA which is…
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16 JuneClothing & Shoes
CEO of Frasers Fashion departs group
The CEO of Frasers Fashion, Greg Pateras, has departed the business this week. Before assuming his role at Frasers, Pateras was previously the CEO of ISawItFirst.com, where he is said to have turned around the loss-making business, and oversaw its eventual sale to Frasers Group. Following Frasers’ acquisition of the…
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13 JuneHealth & Beauty
Lloyds pharmacy shuts all 237 Sainsbury branches
LloydsPharmacy has confirmed that all its stores located in Sainsbury’s stores will cease to exist from today (13 June 2023). The closures, which were previously agreed, were supposed to be phased out over the year, however, the date has been brought forward and branches are closing sooner than expected. The…
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