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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Sep- 2018 -3 SeptemberClothing & Shoes
Boden reports strong sales increase of 13%
Lifestyle retailer Boden has reported a 13% rise in sales for the year ending December 2017 due to an increase in overseas customers. This increase in sales accounted for £347.1m growth.The company also saw its pre-tax profit rise to £27.3m from £26.2m; an increase of 4%. Boden attributed its strong…
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Aug- 2018 -21 AugustHigh Street
Office Outlet announces CVA proposal
Stationery retailer Office Outlet has announced a company voluntary arrangement (CVA) proposal to restructure its UK store estate as part of its ongoing turnaround strategy. The retail chain formerly known as Staples has spent the last two years performing an operational restructuring which it said has “significantly improved” its store…
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20 AugustDepartment Stores
House of Fraser woes push Mulberry into £3m loss
Designer fashion brand Mulberry has issued a profit warning following the financial woes of House of Fraser. With the company, saying it expects to absorb costs of £3m due to the chain’s restructuring, the company’s shares dropped by 30% following the announcement. Mulberry operates 21 House of Fraser concessions, employing…
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17 AugustDepartment Stores
Debenhams to axe 90 jobs
Debenhams has announced it is to cut 90 jobs as part of a restructuring plan to focus the business on key areas. The department store is also currently in redundancy talks with 200 head office workers as part of the last stage of its cost cutting plan. In a statement…
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14 AugustDIY
42 Homebase stores to face the axe
DIY retailer Homebase has announced the closure of 42 stores, resulting in around 1,500 redundancies. The DIY chain has already closed 17 stores after it was bought out by restructuring experts Hilco for £1 in May, and is said to be filing for a CVA. Insolvency advisors Alvarez & Marsal…
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14 AugustDepartment Stores
Mike Ashley plans to keep 80% of House of Fraser stores open
Sports Direct owner Mike Ashley has vowed to keep 80% of House of Fraser’s stores open, after he saved the department store chain from administration in a £90m buyout last week (Friday 10 August). When the department store entered a CVA in June, it planned to shut 31 of its…
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9 AugustDepartment Stores
House of Fraser fate could be decided today
A decision could be made on the future of House of Fraser today as its creditors assess takeover bids made by Sports Direct’s Mike Ashley, retail tycoon Philip Day, and retail turnaround fund Alteri Investors. According to Sky News, PwC spent Wednesday (8 August) afternoon negotiating on the 169-year-old’s department…
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8 AugustDIY
80 Homebase stores to shutter affecting 1,000 jobs
Homebase will announce the closure of 80 stores next week resulting in the loss of 1,000 jobs. The DIY chain has already closed 17 stores after it was bought out by restructuring experts Hilco for £1 in May, and is said to be filing for a CVA. Insolvency advisors Alvarez…
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Jul- 2018 -17 JulyDepartment Stores
Usdaw hits out at M&S for second time after 351 management roles cut
Trade union Usdaw has said that it will continue its campaign to be recognised as a representative for M&S workers after saying the company has not been allowing it to represent workers. Following the announcement that 351 management roles were to be cut at M&S, Usdaw national officer Dave Gill…
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13 JulyHigh Street
Poundworld to shutter a further 80 stores
The administrators of Poundworld, Deloitte, have announced a further 80 store closures, in addition to the closure of 25 stores announced on 10 July 2018. The shuttering of these 80 stores will be phased from Friday 20 July to Sunday 22 July, reducing the number of open stores to 230.…
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