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 -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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9 JulyHigh Street
M and G withdraws court action against Debenhams
Real estate company M and G Real Estate has withdrawn its court challenge against retailer Debenhams, helping the retailer restructure through company voluntary arrangements (CVA). M and G had originally disagreed with the CVAs, which would allow Debenhams to reduce rent leading to the real estate company filing a court…
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2 JulyClothing & Shoes
Office appoints advisers amid CVA rumours
Footwear retailer Office has appointed advisers as it considers a potential restructuring of the business. According to Sky News, Office has appointed advisory firm Alvarez & Marsal (A&M) to help plan for a possible Company Voluntary Agreement (CVA) that could see the closure of around 100 UK stores. However sources…
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1 JulyClothing & Shoes
Poor trading leaves Jack Wills facing ‘cash crunch’
Fashion retailer Jack Wills is reportedly facing a “cash crunch” after a period of poor trading this spring. According to The Times, Jack Wills is rapidly going through the £28m of cash injections arranged by its equity firm owner BlueGem, with sources saying trading has “fell off a cliff”. BlueGem,…
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Jun- 2019 -27 JuneDIY
Bathstore goes into administration putting 500 jobs at risk
Bathroom retailer Bathstore has appointed audit and business advisory firm BDO as administrators as the company attempts to be sold as a going concern. The retailer has 135 stores across the UK and employs 531 staff; it will continue to trade as normal. Ryan Grant, BDO business restructuring partner, said:…
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