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- 2020 -12 MarchDepartment Stores
Debenhams seeking new CEO as Vansteenkiste prepares to step down
Debenhams is seeking a new CEO to help steer its restructuring as its current boss Stefaan Vansteenkiste prepares to step down from his role after less than a year at the helm. According to Sky News, Vansteenkiste is to step down within the coming months and Debenhams has appointed headhunters…
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11 MarchHigh Street
Debenhams CVA now free from legal challenges
Embattled department store chain Debenhams has announced that its CVA proposals will be upheld, as the time period for any appeal to be lodged has now expired. The company confirmed that all relevant procedural matters dealt with at the CVA challenge hearing in February have been concluded “in its favour”.…
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2 MarchDepartment Stores
Debenhams denies lenders’ threat to hold up restructuring over rent cuts
Department store chain Debenhams has denied reports of it telling landlords that its lenders may not sign off a “critical debt restructuring” unless they agree to further rent cuts. Debenhams and its lenders agreed to swap £100m of debt for equity in April last year after it entered pre-pack administration,…
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Feb- 2020 -25 FebruaryComment
The changing face of retail in the age of digitisation
Retail: the 2020 snapshot It’s no secret that high street retail in Britain has been struggling for the past decade. Since the collapse of Woolworths in 2009, it has been clear that something, somewhere, has been going very wrong on the Great British high street. In fact, currently it is…
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25 FebruaryShopping Centres
Hammerson profits sink to £534m in full year results
Retail landlord Hammerson has reported its losses have widened to a pre-tax loss of £537.8m in the year to 31 December, up from £173.3m in 2018. Hammerson reported an 11.2% decrease in rental income to £308.5m after it revealed that 6.7% of retailers were hit by administrations and restructuring. During…
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21 FebruaryHigh Street
Phillip Day’s Peacocks acquires Bonmarché
Embattled high street retailer Bonmarché has been sold to Peacocks, part of Phillip Day’s Edinburgh Woollen Mill Group (EWM). According to Drapers, Peacocks has acquired around 200 stores and is in talks with landlords or whether it can acquire the remaining sites. Bonmarché has a store count of around 270.…
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13 FebruaryHigh Street
Forever 21 rescued by landlords in £62m deal
Two of Forever 21’s largest landlords have reportedly been given the go-ahead to acquire the company out of bankruptcy in a $80m (£62m) deal. According to The Times, a bankruptcy judge has approved the deal which will see Simon Property Group and Brookfield Property Partners link up with Sports Illustrated…
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11 FebruaryHigh Street
Administrations up 5% in 2019
The number of companies falling into administration across England and Wales increased by just under 5% in 2019, according to new analysis from KPMG. A study of notices in the London Gazette showed that a total of 1,403 companies went into administration during 2019, compared with 1,341 in the previous…
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3 FebruaryDepartment Stores
Beales slashes 32 head office roles following administration
Embattled department store chain Beales has announced 32 job cuts at its head office in Bournemouth, nearly two weeks after the group entered administration. KPMG said the joint administrators will be “providing support to those affected over the coming days”. However, KPMG confirmed that all of the chain’s stores remain…
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Jan- 2020 -28 JanuaryHigh Street
Over 31,000 retailers report signs of ‘significant financial distress’
The number of retail businesses in “significant financial distress” grew to 31,615 in the fourth quarter of 2019, according to research by corporate restructuring firm Begbies Traynor. The firm also reported a 8% year-on-year increase in the number of online retailers facing financial distress. Begbies Traynor’s Red Flag Alert research,…
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