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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Aug- 2023 -23 AugustNews
Getir to cut roles amid global restructuring
Getir, the ultrafast grocery delivery company, has announced a global restructuring to significantly increase “operational efficiency”, with plans to reduce its team and lay off almost 2,500 employees across its markets. The Getir network currently consists of roughly 23,000 people across five countries including couriers, pickers, and office employees. Following…
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10 AugustClothing & Shoes
Farfetch to cut headcount amid restructure
Farfetch is reportedly making redundancies across both its London and New York teams amid a restructuring of the group, Drapers has reported. According to Drapers, the move has impacted an estimated 10 people from its London-based marketing team, as well as some workers in its New York-based tech team. In…
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8 AugustHigh Street
Gordon Brothers mulls potential Wilko rescue deal
The investment company, Gordon Brothers, which has backed high street retailer Laura Ashley, is in talks with Wilko’s advisers at PwC about structuring a potential deal, Sky News has learned. An offer could involve Gordon Brothers providing funding to the discount retailer to implement a restructuring that would involve “significant”…
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7 AugustHigh Street
Clintons could close fifth of stores to remain trading
Clintons could reportedly be set to close around a fifth of its stores in order to keep the company solvent. According to reports, first revealed by The Times, the retailer has appointed restructuring experts FRP Advisory to help oversee a possible debt-for-equity swap. The outlet also revealed that as part…
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4 AugustEconomy
Retail sector accounted for 16% of UK administrations in 2023, study finds
The retail sector accounted for 16% of administrations in the first six months of 2023 – the highest industry in the UK, according to analysis by full-service law firm Shakespeare Martineau. A total of 759 businesses, 118 of which came from the retail sector, filed for administration between 1 January…
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3 AugustHigh Street
Wilko set to appoint administrators
Budget household and garden retailer Wilko has announced that it has filed a notice of intention to appoint administrators. The news comes as, earlier this year, the retailer was considering selling the company in a bid to secure its future. The retailer, which operates roughly 400 stores across the country…
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Jul- 2023 -21 JulyHigh Street
Wilko owners explore potential sale
The owners of Wilko are reportedly exploring a potential sale of the chain in a bid to rescue the group’s future, Sky News has reported. Advisors are now said to be seeking out potential buyers, with sources telling Sky that a “large number” of large general merchandise chains have been…
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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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