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 -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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12 JuneCoronavirus
Poundstretcher faces CVA, 5,500 jobs at risk
Poundstretcher is facing a risk of closure across the majority of its estate, following news it is launching a CVA in a bid to seek rent cuts from its landlords. According to Sky News, the discount retailer has initiated a “radical” restructuring programme that will seek to cut rents at…
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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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