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- 2020 -5 AugustCoronavirus
River Island considering CVA as Covid-19 hits sales
Fashion retailer River Island is reportedly considering a CVA proposal as it attempts to weather the coronavirus pandemic. According to Retail Week, River Island is considering launching a CVA proposal or another form of administration in order to reduce rents or close some of its stores that have seen lower…
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4 AugustHealth & Beauty
DW Sports falls into administration, 1,700 jobs at risk
DW Sports has collapsed into administration, placing around 1,700 jobs at risk. BDO announced that its restructuring partners, Graham Newton and Ryan Grant, were appointed joint administrators of the sportswear and fitness company on 3 August 2020. The group currently operates 50 retail sites and 73 gyms across the UK,…
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Jul- 2020 -27 JulyClothing & Shoes
Arcadia on verge of launching restructuring process
Arcadia is reportedly set to launch a restructuring process just a year after it pushed from a CVA proposal, as it battles to overcome the challenges presented by the coronavirus pandemic. According to the Sunday Times, the retail group owned by Sir Philip Green has presented a cost-cutting plan to…
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20 JulyHigh Street
M&S to cut 950 jobs
Marks and Spencer (M&S) has announced it will cut 950 jobs in a bid to restructure its business in the wake of the Covid-19 crisis. The high street retailer announced it plans to “accelerate the pace and scale” in a statement released today (20 July), adding that it aimed to…
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20 JulyCoronavirus Featured Content
Post-lockdown: keeping business afloat
Lawyers predict that 1 in 10 SMEs is set to collapse post-lockdown. This harsh reality means burying heads in sand is not an option and steps – some difficult – must be taken sooner rather than later to protect against the looming slump. Recent news that household names such as…
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20 JulyCoronavirus
Harvey Nichols warns staff of redundancies
Harvey Nichols has reportedly warned staff they may be facing a slew of redundancies in the wake of coronavirus. According to the Times, chief executive Manju Malhotra warned “there may be staff redundancies at all locations” in an email sent to 1,500 staff, adding that the crisis would “change the…
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20 JulyCoronavirus
‘Hundreds’ of jobs to be axed at M&S
Marks and Spencer is expected to announce a raft of job cuts this week, becoming the latest high street casualty in the wake of Covid-19. According to Sky News, the retailer will unveil its widespread redundancy plan “within days”, with hundreds of jobs expected to be axed. It comes as…
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15 JulyCoronavirus
Burberry to slash 500 roles amid Q1 sales slump
Burberry is reportedly set to slash almost 500 roles worldwide to support a £55m cost-cutting effort, amid sliding retail sales. According to the Guardian, this includes 150 UK head office roles, as the group proposes to “further streamline” its office-based functions and “improve its retail efficiency” in certain geographies outside…
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14 JulyCoronavirus
DFS to cut jobs as revenues slide
DFS has revealed that revenues were down by £271m in the year ended 28 June 2020, largely due to the pause in deliveries following the nationwide lockdown. In light of the “challenging outlook” for its current market, the group has now commenced an operational restructuring of Sofa Workshop and Dwell…
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2 JulyOnline & Digital
17 million UK consumers expected to permanently shop online post-Covid-19
Some 17.2 million British consumers plan to make permanent changes to the way they shop, as perceived risks of contracting Covid-19 at physical stores redirects spending into online channels. This is according to a new report by global professional services firm Alvarez & Marsal (A&M), in partnership with Retail Economics,…
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