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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Mar- 2019 -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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25 MarchHigh Street
Paperchase CVA proposal approved by creditors
The creditors of stationery retailer Paperchase have approved its proposed company voluntary arrangement (CVA). The retailer originally announced the CVA proposal on 4 March, and at the time said some 45 sites would “largely remain unchanged”, whilst turnover rents would be proposed at 70 sites, with a “varying guaranteed minimum…
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25 MarchDepartment Stores
Sports Direct slams Debenhams for rejecting £100m offer
Sports Direct has criticised Debenhams for rejecting its offer to acquire its Danish company Magasin Du Nord for £100m. On Friday (22 March), the struggling department store announced it had secured a £200m refinancing lifeline, shortly after Mike Ashley’s Sports Direct made the proposal which gave Debenhams the 12 month…
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22 MarchDepartment Stores
Debenhams secures £200m lifeline
Embattled department store Debenhams has confirmed it has secured a £200m refinancing lifeline. The funding is expected to “provide liquidity headroom” for its future funding needs and “deliver stability for its customers, staff, suppliers and pension holders”. Earlier this month, the company said it was considering a £150m cash injection…
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15 MarchClothing & Shoes
Jobs and stores could go as Green considers Arcadia restructure
Sir Philip Green is preparing to unveil a company voluntary agreement (CVA) for Arcadia in a matter of weeks, Sky News has reported. The proposal could result in a number of job losses and store closures across its high street brands which include Topshop, Miss Selfridge, Dorothy Perkins and Warehouse.…
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12 MarchClothing & Shoes
Early Learning Centre sold to The Entertainer for £13.5m
Mothercare has sold its Early Learning Centre (ELC) brand to toy retailer The Entertainer for £13.5m. The deal comes as part of restructuring and refinancing at Mothercare, with the retailer saying it means ambitions to be debt free by the end of the year had been bolstered. Mothercare said the…
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1 MarchClothing & Shoes
Gap to close 230 stores
Fashion retailer Gap will close 230 of its stores over the next two years as part of a plan to “revitalise” its brand health. The company estimates an annualised sales loss of approximately $625m (£471m) as a result of these closures. Additionally, the company estimates pre-tax costs associated with these…
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