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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Jun- 2020 -11 JuneComment
Retail experience will never be the same
While COVID-19 has had a devastating impact on the UK’s retail sector, it should not come as a surprise to see the high street in peril. Even prior to the outbreak, retailers had endured a torrid twelve months – a poor Christmas period had led into a traditionally weaker opening…
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4 JuneClothing & Shoes
New Look enters talks with landlords seeking turnover-based rent
High street retailer New Look has reportedly entered talks with its landlords about switching to a turnover-based rent system. According to Sky News, New Look has appointed the property agents CBRE and CWM to negotiate terms for its 500 store portfolio across the UK. Reports also suggest that if the…
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2 JunePeople Moves
Tesco CFO Alan Stewart announces plans to step down
Tesco has announced that CFO Alan Stewart has decided to retire from the position and leave the company on 30 April 2021. The company board is now conducting both an internal and external search to identify a successor. Stewart joined the grocer in 2014, as a member of the board…
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May- 2020 -20 MayHigh Street
Johnsons Shoes Company enters administration
Johnsons Shoes Company, which operates 12 stores under the brands Johnsons Shoes and Bowleys Fine Shoes, has entered administration due to the impact of the coronavirus pandemic. Ian Defty and Richard Toone from insolvency and restructuring firm CVR Global have been appointed as administrators, and have opted to keep all…
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5 MayClothing & Shoes
J.Crew files for bankruptcy protection
J.Crew has become the first major US retailer to officially file for bankruptcy protection amid the global lockdown. As per the terms of the new filing agreement, the fashion retailer’s main creditors will take control of the group in exchange for cancelling debts of $1.65bn (£1.3bn), converting them into equity.…
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1 MayCoronavirus
Intu appoints to chief restructuring officer to ‘fix’ balance sheets
Shopping centre owner Intu has announced the appointment of David Hargrave as chief restructuring officer to “fix” its balance sheet amid the Covid-19 pandemic. Hargrave has 33 years of experience in the transaction business of ‘Big four’ accounting firms, where he held senior positions at PwC, from 1987 to 200…
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Apr- 2020 -30 AprilCoronavirus
Oasis and Warehouse stores closed ‘indefinitely’, 1,800 jobs lost
Over 1,800 employees at fashion retailers Oasis and Warehouse are set to be made redundant after administrators failed to find a new buyer for the retailers. The fashion brands have now been sold to Hilco, a restructuring firm and former owner of HMV. Whilst Hilco agreed to buy the retailer’s…
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29 AprilNews
Former Sainsbury’s exec set to head Waitrose
The John Lewis Partnership is poised to appoint a former Sainsbury’s executive to head up its food operations at Waitrose in an effort to navigate the ongoing pandemic. According to Sky News, the group’s new chair, Dame Sharon White, has approved the appointment of Sainsbury’s veteran James Bailey for the…
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24 AprilCoronavirus Featured Content
Oasis and Warehouse fall: Will the coronavirus pandemic force my business into insolvency?
With the involuntary closure of many businesses forced by the UK-wide lockdown, previously successful companies are beginning to feel the strain and becoming more concerned about their future viability. Many retailers simply do not have the income or cash reserves to pay their creditors at this time. This is not…
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23 AprilClothing & Shoes
Gordon Brothers rescues Laura Ashley from administration
Embattled retailer Laura Ashley has been rescued from administration by global investment firm Gordon Brothers for an undisclosed sum. Gordon Brothers revealed it has acquired the global Laura Ashley brand, archives, and related intellectual property from the Laura Ashley group’s administrators PwC. Ramez Toubassy, president of brands for Gordon Brothers…
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