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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Sep- 2022 -21 SeptemberNews
Eve Sleep losses widen amid ‘appalling’ market conditions
Eve Sleep, a direct-to-consumer sleep wellness brand, has reported EBITDA losses of £4.2m for the first half of 2022, compared with a loss of £1.9m for the same period the year prior. The report saw revenues down 16% to £11.6m for the six months ended 30 June 2022, compared with…
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12 SeptemberHigh Street
Wilko restructures rent payments ahead of Christmas
The discount retailer, Wilko, is reportedly making changes to its rent payment schedule, according to The Sunday Times, as the brand looks to “conserve cash” in the run-up to Christmas. The news comes as retailers are experiencing unprecedented cost pressures, with Wilko citing supply-chain volatility and inflation as major concerns.…
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6 SeptemberShopping Centres
Bon Accord owners placed in administration
The Guernsey-based owners and operators of the Bon Accord shopping centre in Aberdeen, Aberdeen Retail 1 Limited and Aberdeen Retail 2 Limited, have reportedly been placed in administration. It is reported that the administration has been caused by “unsustainable” cash flow problems stemming from the on-going impact of the Covid-19…
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Aug- 2022 -25 AugustSupermarkets
Iceland’s debt rating downgraded as it falls to pre-tax loss
Iceland’s debt rating has been downgraded by Moody’s as its newly filed accounts showed Iceland Foods fell to a pre-tax loss of £4.1m for the 52-week period ended 25 March 2022, compared to a profit of £73.1m in the prior year. Sales dropped 4.3% from £3.7bn to £3.5bn year-on-year, compared…
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24 AugustClothing & Shoes
Apricot to exit CVA early
Creditors of Apricot have reportedly voted in favour of the retailer exiting its company voluntary process (CVA) 16 months earlier than planned due to an improvement in trade, according to Drapers. Apricot launched a CVA in January 2021 to move 13 of its 14 UK standalone stores to turnover rent…
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23 AugustOnline & Digital
Made.com director steps down as group mulls equity raise
Made.com has announced that one of its senior directors, Gwyn Burr, has stepped down from the board with immediate effect, amid reports the group is looking to shore up its cash reserves through a fresh equity raise. Burr cited her reason for leaving as “a need for her to give…
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18 AugustEconomy
Made.com calls in advisers to shore up balance sheet
Made.com Group, the online furniture retailer, has reportedly called in advisers to help shore up its balance sheet as it plans for a share sale to raise approximately £50m, according to Sky News. The London-listed company has hired PricewaterhouseCoopers (PwC) to evaluate cost-cutting strategies and restructuring options. Made.com is said…
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8 AugustClothing & Shoes
Kontoor Brands revenue up 25% in Q2
Global lifestyle apparel company, Kontoor Brands, has seen revenue increase by 25% to $614m (£507m) in Q2, largely driven by strength in the U.S. in both its Digital and wholesale channels. The group’s strongest brands, Wrangler and Lee, also reported a revenue increase of 19% and 14% respectively in H1…
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2 AugustPeople Moves
Former Asda exec named CEO of Poundstretcher
Poundstretcher has announced the appointment of Derek Lawlor as its new CEO, who succeeds current CEO, Aziz Tayub, with immediate effect. Following the appointment, Tayub will assume the role of chairman at the group. Lawlor brings with him a “wealth” of experience, having started his retail career with Tesco over…
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Jul- 2022 -25 JulyEconomy
Retail accounts for 10% of UK administrations in 2022, study finds
The retail sector accounted for 10% of administrations in the first six months of the year – the third highest industry in the UK – according to analysis by full-service law firm Shakespeare Martineau. It found more than 620 businesses, 62 of which came from the retail industry, filed for…
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