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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Dec- 2021 -3 DecemberHigh Street
Poundstretcher rewards staff with 10% pay increase
Discount chain Poundstretcher has announced it is rewarding all of its employees in “recognition of their hard work” throughout the pandemic, as well as the company’s restructuring in 2020 with a 10% pay increase. It revealed that from 1 January 2022, all employees who have completed a year’s full service…
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3 DecemberHigh Street
Frasers Group secures £930m in funding
Frasers Group has announced that it has entered into a new term loan and revolving credit facility with its banks, which replaces its existing facility of £913.5m. It revealed the new facility, which is valid for three years (with 2 one year extension options for a total tenor of up…
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Nov- 2021 -24 NovemberClothing & Shoes
Gap cuts 2021 guidance as supply chain woes dent sales
Gap has lowered its full-year guidance after it revealed supply chain disruption has dented its Q3 sales and led to higher expenses. In a trading update for the quarter, Gap said it now expects revenues to grow around 20% for the year compared with previous estimations of 30%. It also…
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4 NovemberSupermarkets
Sainsbury’s returns to profitability in H1
Sainsbury’s has revealed it has returned to profitability in the 28 weeks to 18 September 2021. During the period, the group generated pre-tax profits of £541m compared with a previous year’s loss of £137m which the group attributed to “significantly lower” restructuring and impairment costs. Group revenue rose to £15.7bn…
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Oct- 2021 -25 OctoberClothing & Shoes
Missguided seeks emergency funds amid supply chain crisis
Following the report from the Times, a spokesperson for Missguided told Retail Sector: “The weekend media reports regarding Missguided are not accurate – Rothschild continues to manage our investment process. “While we continue to talk to a range of parties as part of that process, this kind of incorrect speculation…
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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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