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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Aug- 2019 -29 AugustHigh Street
Forever 21 reportedly contemplates filing for bankruptcy
American fast fashion retail chain Forever 21 is reportedly preparing for a potential bankruptcy filing, after restructuring and debt restructure talks stalled. The retailer wants to secure a potential debtor-in-possession loan to take the company into Chapter 11 bankruptcy, according to Bloomberg. A source told the publication, a bankruptcy filing…
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28 AugustHigh Street
US landlords drop legal challenge against Arcadia
The two US landlords involved in the legal challenge against Arcadia’s company voluntary agreements (CVAs) have dropped their case, following “significant and constructive” dialogue. Arcadia received the challenge US property firms Vornado and Caruso in July, following the approval of seven CVAs in June. The CVAs will see all 11…
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27 AugustLuxury Goods
FF Group searching for Links of London buyer
Links of London owner Folli-Follie Group (FF Group) has confirmed that it has appointed firms Deloitte and Savigny to the potential sale of the retailer. Last week Sky News reported that the group had been looking for a new owner, with sources telling the broadcaster it was “almost inevitable” a…
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14 AugustHigh Street
Steinhoff confirms refinancing after accounting ‘scandal’
Poundland owner Steinhoff has confirmed refinancing of €9bn (£8.3bn) of debt after the company was involved in an accounting ‘scandal’ over the last few years. The group announced this in its half year report, where European revenue rose by 13% to €1.7bn (£1.57bn) for the period up to 31 March…
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8 AugustPeople Moves
Debenhams names new CEO as chairman Duddy steps down
Debenhams has announced the appointment of Stefaan Vansteenkiste as its new CEO and has also revealed its chairman Terry Duddy is to step down from his role. Vansteenkiste joined Debenhams in April 2019 as chief restructuring officer and has been working closely with the executive team on a new business…
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Jul- 2019 -29 JulyShopping Centres
Hammerson reports £319.8m loss
Shopping centre owner Hammerson has reported a £319.8m loss during the first six months of the year ending 30 June. Hammerson, which owns shopping centres such as London’s Brent Cross and Birmingham’s Bullring, revealed on an adjusted basis profits were down 10.5% to £107.3m. The company also reported a 6.8%…
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24 JulySupermarkets
M&S announces latest store closure
Marks and Spencer has revealed its latest store set to close under its restructuring plan. As part of its plan to axe 85 full-line stores and 25 of its Simply Food outlets as it targets a return to profitable growth, the food and homeware retailer announced its Dorchester store, located…
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18 JulyHigh Street
Asos issues profit warning amid ‘operational issues’
Online retailer Asos has issued its third profit warning this year, on the release of its trading statement for the four months up to 30 June. The retailer cited “operational issues” as one of the contributing factors to the profit warnings, and the expected steep decline in profits. The retailer…
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16 JulyHigh Street
Around 16% of UK shops lie empty according to FOI
Corporate restructuring advisor Duff and Phelps has revealed that close to 16% of all UK retail and shop outlets remain empty, according to a Freedom of Information (FOI) request made to local councils. Its research found that over 50,000 units in 418 councils remain closed, an average of 121 empty…
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16 JulyHigh Street
Arcadia receives challenges on CVAs from US property group
Philip Green’s Arcadia has received a challenge from two legal entities of US property group Vornado, in relation to the company voluntary arrangements (CVAs) which were agreed last month. The retailer had all seven of its CVAs approved last month allowing it to restructure to avoid administration, more than 23…
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