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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Apr- 2019 -29 AprilHigh Street
Arcadia secures help from HSBC
Arcadia, which is owned by Phillip Green, has secured help from HSBC in order to reassure suppliers as the retailer seeks out a rescue deal. According to a report by The Times, HSBC agreed to stand behind Arcadia’s debts to suppliers, which have asked for advance payments since credit insurers…
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15 AprilDepartment Stores
Debenhams CEO expected to step down
Debenhams CEO Sergio Bucher is expected to step down in the next few days, after lenders took control of the embattled department store’s chain last week. A source close to Bucher told the BBC: “Having stayed on and got the refinancing in place, Sergio thinks now would be the right…
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9 AprilDepartment Stores
Debenhams enters pre-pack administration
Debenhams has entered pre-pack administration and gone into the control of its lenders following the department store’s rejection of Sports Direct’s offer to underwrite £150m equity issuance. The pre-pack administration will see all of the company’s shareholders – including Sports Direct which has a 30% stake – wiped out and…
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8 AprilClothing & Shoes
Philip Green proposes to halve Arcadia pension payments
Sir Philip Green is seeking to halve the annual contributions to the Arcadia Group’s pension scheme as part of its restructuring plan. According to Sky News, Green wishes to cut the annual pension fund from £50m to £25m and made the proposal during discussions between Arcadia’s advisers, its pension trustees…
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1 AprilDepartment Stores
Debenhams shareholders back Mike Ashley becoming CEO
Sports Direct has said a number of other shareholders in embattled department store Debenhams have expressed support in Mike Ashley becoming CEO of the company. Ashley’s retail company Sports Direct has an almost 30% stake in Debenhams and as the department store has been seeking funding to help with its…
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Mar- 2019 -29 MarchDepartment Stores
Debenhams advisors should be ‘put in prison’, says Mike Ashley
Mike Ashley has hit out at Debenhams after the department store agreed on a refinancing scheme which could see its shareholders’ stakes wiped out. Debenhams released a statement yesterday (28 March) saying its bondholders were expected to back a £200m restructuring loan. In response, Ashley said “if there were any…
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28 MarchClothing & Shoes
Debenhams bondholders to back £200m restructuring loan
Debenhams bondholders are expected to back a £200m restructuring loan, with a statement today claiming a majority had “provided consent to the amendments sought to the existing notes”. The deadline for bondholders to accept the loan is 5pm tonight (28 March). News of a loan will come as a blow…
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28 MarchClothing & Shoes
Arcadia ‘draws up list of 67 store closures’
Arcadia has listed 67 stores it wishes to close across all of its brands, the Financial Times has reported. As seen by the publication, stores of varying sizes across the UK and Ireland with a total annual rent of £11m are set to be shut. These include Burton, Topshop, Evans,…
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27 MarchHigh Street
Sports Direct considers £61.4m bid for Debenhams
Sports Direct, owned by Mike Ashley, is considering a £61.4m bid to take control over embattled department store chain Debenhams, despite the retailer rejecting its previous proposals. The sportswear retailer said the possible offer is “pre-conditional” upon Debenhams immediately appointing Ashley as its CEO and terminating the noteholder consent solicitation…
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26 MarchClothing & Shoes
Sports Direct considers cash offer for Debenhams
Sports Direct has revealed it is mulling over a cash offer for embattled department store Debenhams, despite the retailer rejecting its previous proposals. Sports Direct said Debenhams’ current restructuring and refinancing process was “likely to result in an adverse outcome” for its existing shareholders. The sportswear retailer has made several…
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