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.
-
Jan- 2019 -18 JanuaryClothing & Shoes
New Look’s Belgium outfit files for insolvency
The board of New Look Retail Group has announced its Belgium arm (NLB) has filed for insolvency following a review of its financial and trading position. NLB, which currently operates six stores in Belgium, said its board concluded it is “unable to continue trading”, and has decided to therefore wind…
Read More » -
14 JanuaryClothing & Shoes
New Look reveals plan to slash debt to £350m
High street retailer New Look has announced it has reached an ‘in principle’ debt-for-equity swap proposal with key stakeholders to reduce its debt by 80%. The fashion chain is seeking to cut its debt from £1.35bn to £350m and issue new bonds to raise £150m in capital. It also expects…
Read More » -
10 JanuaryDepartment Stores
Debenhams chairman ousted by Mike Ashley
The chairman of Debenhams, Sir Ian Cheshire, has resigned with immediate effect after Mike Ashley and other shareholders voted him off the board at the company’s AGM. It is understood Sports Direct, which is controlled by Mike Ashley and is a 29.7% shareholder in the business, along with Dubai-based Landmark, another…
Read More » -
9 JanuaryHigh Street
Mothercare sales plunge 11.4% during third quarter
Embattled retailer Mothercare has reported an 11.4% drop in UK like-for-like sales in its Q3 trade update, which covered the 13 week period to 5 January 2019. According to the group the results reflect a combination of the “difficult consumer backdrop” and the “aggressive discounting activity undertaken in the prior…
Read More » -
7 JanuaryEconomy
Retail administrations rise for second consecutive year
The number of retailers entering into administration in 2018 was 125 – compared to 118 in 2017, an increase of 6% according to Deloitte’s latest insolvency figures. Furthermore, the number of retailers entering into company voluntary arrangements (CVAs) increased by 52%, from 25 in 2017 to 38 in 2018. Deloitte’s…
Read More » -
Dec- 2018 -21 DecemberHealth & Beauty
Boots owner’s earnings dented by ‘challenging market’ in the UK
Boots owner, Walgreens Boots Alliance, has said it has seen a decline in profit and sales due to a “challenging market” in the UK. The group said its UK pharmacy sales had fallen by 3.5% in the three months to the end of November, it also saw retail sales drop…
Read More » -
17 DecemberClothing & Shoes
Laura Ashley to close 40 UK stores as it expands to China
Homeware and clothing retailer, Laura Ashley has announced it is to close 40 UK stores as it expands its Chinese business. Laura Ashley has already closed 40 UK stores since 2015 with owners Malayan United Industries (MUI) planning to reduce its UK presence to 120 stores. The group then wants…
Read More » -
11 DecemberHigh Street
Carpetright swings to £11.7m loss in H1 results
Embattled retailer Carpetright has reported losses before tax of £11.7m for 26 weeks ending 27 October 2018, compared with the £600,000 loss recorded during the same period last year. Group revenue decreased by 15.7% to £191.1m, and underlying EBITDA declined by £1.7m, compared with the profit of £8.6m recorded during…
Read More » -
4 DecemberAdvice
Are CVAs still fit for purpose?
In 2018, we have seen a number of high-profile retail restructurings and common to many is the use of a Company Voluntary Arrangement (CVA). After much press comment, which tended to focus on the plight of landlords, R3, the Association of Business Recovery Professionals, produced a report in May 2018…
Read More » -
Nov- 2018 -27 NovemberClothing & Shoes
Esprit to cut 40% of non-store jobs and reduce product line
Esprit has announced it is to cut 40% of non-store jobs and reduce its product line by 30% as part of a restructuring attempt following tough competition from fast-fashion and online retailers. On Monday (26 November) the retailer said in an investor presentation that it had “lost touch” with its…
Read More »
