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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Oct- 2019 -16 OctoberHigh Street
Jessops owner preparing to call in administrators
Dragon’s Den star Peter Jones, owner of camera retailer Jessops, is planning to call in administrators in an attempt to save the embattled chain. According to Sky News, JR Prop Limited which manages the retailers leasehold estate, is looking to appoint restructuring advisory firm, Resolve, as the administrator. Sky News…
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16 OctoberOnline & Digital
Asos profits nosedive 68% in full-year results
Online fashion retailer Asos has reported a 68% decrease in profits before tax to £33.1m, during the year to 31 August 2019. The retailer said the decrease was the result of transition costs of £45m during the period, up £20m on the prior year reflecting a “substantial” amount of one-off…
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10 OctoberDepartment Stores
Debenhams secures £50m cash injection from creditors
Debenhams has revealed it has secured a £50m loan facility with some of its existing lenders to help it through the busy festive period. Following the successful consent solicitation concluded on 6 September 2019, the department store chain said the new cash injection will provide the group with an additional…
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9 OctoberHigh Street
Links of London enters administration placing 350 jobs at risk
British jewellery brand Links of London has entered administration, placing around 350 jobs at risk. Matt Smith and Dan Smith, restructuring partners at Deloitte, have been appointed as joint administrators to the company. The brand is owned by the Greek Folli Follie Group, with headquarters in London, and sells luxury…
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4 OctoberDepartment Stores
John Lewis plans to cut service charge payments to landlords
John Lewis is seeking service charge discounts from some of its landlords to help reduce costs during the upcoming golden quarter. According to the BBC, the department store chain has been telling landlords in certain areas it has decided to reduce its payment for non-rent items, such as heating, cleaning…
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Sep- 2019 -30 SeptemberClothing & Shoes
Miss Selfridge swings to £17.5m loss in 2018
Fashion retailer Miss Selfridge has reported a £17.5m loss for the year ending 1 September 2018. According to The Guardian, losses widened following more than £12m in one-off costs, mainly related to writedowns and redundancies. Sales also fell by 15% to £102m during the period, and the number of retail…
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27 SeptemberHigh Street
British Land drops Monsoon CVA challenge
British Land has dropped its legal challenge against Monsoon Accessorize’s CVA plans. According to Sky News, The property investment firm, which owns Sheffield’s Meadowhall, has agreed to abandon its bid to to block Monsoon’s restructuring plans. The news now allows Monsoon to cut rents by between 25% and 65% across…
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11 SeptemberHigh Street
Store closures hit record levels in the first half of 2019
The number of stores closing down in the first six months of the year has reached its highest levels, with 2868 closures recorded for the period. An average of 16 stores a day shut their doors, according to research by the Local Data Company (LDC) and accounting firm PwC. The…
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6 SeptemberClothing & Shoes
Monsoon in legal battle with British Land over CVA plans
Monsoon is facing a legal battle with FTSE 100 property company British Land over its CVA plans. According to Sky News, the owner of Meadowhall shopping centre in Sheffield filed a challenge to block Monsoon’s restructuring plans which will see rents cut by between 25% and 65% across just over…
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2 SeptemberHigh Street
Debenhams engages Deloitte for legal challenge against CVA
Debenhams has engaged ‘Big Four’ accounting and audit firm Deloitte in preparation to fight a legal challenge to its restructuring plan. In May, the retailer secured the backing from creditors to go ahead with a company voluntary arrangement (CVA), which earmarked 50 sites for closure and approved rent reductions at…
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