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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Mar- 2021 -8 MarchPeople Moves
Kate Spade creative director departs amid company restructuring
Kate Spade brand has announced it will undergo a new creative organisational restructuring which will see Nicola Glass, creative director, depart the group on April 1, 2021. As part of the restructuring, Kristen Naiman who has served as SVP, brand creative at Kate Spade for the past seven years was…
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8 MarchSupermarkets
Issa Bros considering adding nail bars and salons to Asda offering
Mohsin and Zuber, the new owners of Asda, are reportedly considering adding nail bars, salons and cafes to the supermarkets offering while reducing grocery floor space. According to The Sunday Times, the Issa Brothers are considering reducing the grocery floor space in stores by up to a quarter in order…
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8 MarchHigh Street
Card Factory seeks fresh funding to aid survival
Card Factory has reportedly drafted in restructuring experts to help secure news funds to support the group through the pandemic. According to the Sunday Times, consultants from Deloitte initially contacted specialist lenders on behalf of the group in efforts to borrow £100m. Half of the funding would reportedly be used…
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4 MarchSupermarkets
Sainsbury’s restructuring plan places 1,150 jobs at risk
Sainsbury’s has begun a restructuring process that will see 500 head office roles cut and a further 650 jobs placed at risk at the company’s online fulfilment centre in east London. According to the supermarket chain, Simon Roberts, chief executive of the company has told staff about the shakeup which…
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Feb- 2021 -26 FebruaryHealth & Beauty
Boots to axe 300 jobs in Nottingham head office
Boots has confirmed its plans to get rid of 300 jobs in its Nottinghamshire head office, citing the pandemic as a major factor in its decision. The health and beauty retailer’s head office, based in Beeston, is set to lose 10% of its workforce with various position levels expected to…
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25 FebruaryNews
Asda’s new business plan puts 5,000 jobs at risk
Asda has announced it will transform parts of its business to focus more on online, putting 5,000 jobs at risk. To support the increasing number of customers who are choosing to shop online, the supermarket revealed it intends to expand its “in store pick” model by creating 4,500 new roles…
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23 FebruaryClothing & Shoes
Clarks CEO steps down amid C-suite shake-up
Giorgio Presca has reportedly stepped down from his role as CEO of Clarks, according to Drapers. Presca, along with the shoe retailer’s chief commercial officer, Massimo Barzaghi and chief people officer, Difna Blamey, are said to have exited the business last week. Victor Herrero, the retailer’s non-executive director, will reportedly…
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22 FebruaryAnalysis
The restructuring options for retailers before it’s too late for rescue
Despite a glimmer of hope that Government may extend more Covid-19 support measures, retailers shouldn’t leave their future to chance if they want to boost their prospects of surviving the pandemic. Up until recent days, it looked like retailers were facing a so-called perfect storm. A moratorium protecting retail tenants…
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10 FebruaryHigh Street
Dune launches CVA targeted at cutting rent costs
Dune has announced the launch of a CVA prospal targeted at cutting rent costs across its 43 stores and 175 concessions. According to Daniel Rubin CEO and founder of the Dune Group, before the pandemic the high street chain was “trading robustly”- however continuous stop-start lockdowns had a “severe financial…
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1 FebruaryClothing & Shoes
Frasers Group acquires New Look’s Brighton store
Frasers Group has reportedly acquired the freehold of New Look’s Brighton store. According to Drapers, the store located at 188-191 Western Road is just one of New Look’s portfolio that is undertaking a rent restructuring following a CVA approved in September 2020. The CVA has ushered in a three-year rent…
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