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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Oct- 2021 -12 OctoberHigh Street
French Connection CEO to retire as H1 losses narrow
French Connection has revealed that its chairman and chief executive Stephen Marks will retire from the company following its completion of the £29m buyout deal. It comes as the group saw its losses narrow for the six-month period ending 31 July 2021 to £900,000 from £12.2m the previous year. During…
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8 OctoberClothing & Shoes
N Brown Group H1 profits hit £28.2m
Jacamo owner, N Brown Group, saw its pre-tax profits hit £28.2m for the six-months ended 28 August, rising from a profit of £14.1m the previous year, thanks to an ongoing strategic transformation in the period. Group revenue dropped slightly to £346.8m from £347.2m in 2020 as a result of Covid-29…
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Sep- 2021 -29 SeptemberClothing & Shoes
Quiz sees FY21 losses widen to £9.6m
Fashion retailer Quiz has seen its losses widen to £9.6m for the year ending 31 March 2021 compared with a previous year’s loss of £3.1m. Revenue also dropped by 66.4% to £39.7m from £118m in 2020 and reflects the impact of the prolonged lockdowns and curtailment of social occasions through…
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8 SeptemberSupermarkets
Poundstretcher returns to profit in FY21
Discount retailer Poundstretcher has reported a swing to £30m pre-tax profits in FY21, up from losses of £49.5m the previous year. The group also revealed an unaudited EBITDA of £46.7m for the year ended 31 March 2021, as a direct result of an earlier restructuring. 2020 saw Poundstretcher enter a…
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Aug- 2021 -25 AugustSupermarkets
Morrisons takeover could weaken pension security, pension trustees warn
A takeover of Morrisons could “materially weaken” the security of its pensions schemes if additional protections are not implemented, according to the trustees of the schemes. The comment comes as part of a statement released from The Morrisons Retirement Saver Plan and The Safeway Pension Scheme, which represents over 85,000…
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23 AugustClothing & Shoes
Gerry Weber appoints first female CEO
Gerry Weber has announced that it has appointed its first female CEO Angelika Schindler-Obenhaus to the group. Schindler-Obenhaus succeeds Alexander Gedat who took over the role on an interim basis in February 2020. She has been a member of the managing board since August 2020 and now forms a dual…
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16 AugustHigh Street
Pret to create 2,000 new roles through expansion
Pret A Manger is reportedly planning to open up to 100 new shops across the UK, in a move that is set to create around 2,000 new jobs. According to the Sunday Times, the chain is set to open up the new sites with the help of its franchisees. The…
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4 AugustClothing & Shoes
New Look posts Q1 profits of £15m
New Look has swung to a £15m adjusted EBITDA profit in the first quarter of FY22, compared with losses of £16m in Q1 FY21. The group reported that total revenue increased 181.7% year-on-year to £194.4m during the 13 week period ended 26 June 2021. However, the fashion retailer also announced…
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3 AugustClothing & Shoes
Joules returns to profit in FY21
Joules has announced that it has returned to profit in its latest full-year results, rising to a pre-tax profit of £6.1m, up from a loss of £3.9m the prior year. It comes as its group revenue saw an uptick of 4.3% to £199m in the full-year ended 30 May 2021,…
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Jul- 2021 -14 JulyHigh Street
John Lewis and Waitrose to axe 1,000 jobs across stores
The John Lewis Partnership has announced that John Lewis and its sister company Waitrose are set to cut 1,000 job roles across its stores. The redundancies are set to affect roles across 34 John Lewis and 331 Waitrose stores, and form part of a widespread restructuring of the company. Operations…
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