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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Jul- 2020 -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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2 JulyClothing & Shoes
Arcadia to cut 500 head office jobs
Arcadia has revealed it is set to cut around 500 head office roles due to the impact of the coronavirus pandemic. The group reportedly informed staff in an email on Wednesday around a fifth of its 2,500 head office staff would be affected by the restructuring. Reports suggest that the…
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1 JulyHigh Street
Harveys collapses into administration as Bensons saved
Furniture retailer Harveys has collapsed into administration after the retailer’s parent company, Blue Group, called in PwC to financially restructure the business. Bensons for Beds, which is also owned by Blue Group, has been saved from the same fate after it was acquired by Blue Group owner Alteri Investors in…
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Jun- 2020 -30 JuneClothing & Shoes
TM Lewin collapses into administration
TM Lewin has collapsed into administration following news that the retailer was eyeing up a pre-pack administration deal. According to the Mail Online, the group cited the ongoing Covid-19 pandemic and the temporary closure of its stores in March as the main reasons behind the collapse. The move could result…
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29 JuneClothing & Shoes
TM Lewin hires restructuring firm as it eyes pre-pack deal
The new owner of TM Lewin has reportedly called in a restructuring firm as it considers a pre-pack administration deal that could see the closure of a number of its stores. According to The Sunday Times, SCP Private Equity, who acquired the shirt maker earlier this year, has appointed restructuring…
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25 JuneClothing & Shoes
N Brown profits slump amid year of transition
N Brown has announced that its profits before tax plunged 28.8% to £59.5m in the year ended 29 February 2020. This was largely driven by lower gross profit and “lower than expected” IFRS9 provision benefit, according to the group. In the same period, group revenue was down by 6.1% to…
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22 JuneNews
Hotter Shoes to launch CVA amid restructuring plans
Shoe retailer Hotter Shoes has revealed it intends to enter into a company voluntary arrangement (CVA) over the coming days in order to “restructure” the company. The move could see the the high street chain close over 60 of its UK stores, and comes after the retailer’s parent company, Electra…
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22 JuneHigh Street
Mothercare seeks new lenders amid franchising plans
Mothercare has confirmed it remains “on track” to become a “profitable” international franchise operation, with plans to operate in around 40 international territories. In its latest update, the retailer confirmed that discussions are ongoing with existing franchise partners in efforts to “establish a more sustainable and less capital-intensive business” going…
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