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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Jun- 2018 -22 JuneDepartment Stores
House of Fraser CVA approved by creditors, 31 stores to close
House of Fraser has announced that its Company Voluntary Arrangement (CVA) proposals have been approved by the company’s creditors in a final agreement that will see 31 stores close. The creditors’ meetings were held at 10am today and the company with both CVA proposals were approved. House of Fraser said…
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19 JuneHigh Street
Eat avoids CVA decision following sales boost
Sandwich chain Eat has avoided making the decision to draft in advisors as recent closures and an increase in sales have put the company back on track, Retail Sector understands. In February, the chain was reported to have appointed advisors KPMG to help it with its restructuring plan which included…
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18 JuneClothing & Shoes
Calvetron Brands to shut 102 Jacques Vert and Precis concessions
Benjamin Wiles, Trevor Birch and Philip Duffy of Duff & Phelps, joint administrators to Calvetron Brands, have announced they are serving notice on 102 Jacques Vert and Precis concessions in the UK and Republic of Ireland. These closures and those announced previously, including Dash and Eastex closures made on 4…
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12 JuneClothing & Shoes
Henri Lloyd to slash 128 jobs despite coming out of administration
Henri Lloyd is to be brought out of administration by a company called Aligro UK Limited, and it will continue to trade from stores in Salcombe, Dartmouth, Cowes, Cheshire Oaks and Lymington. The stores kept open will save 38 jobs, however 128 jobs in total will be axed as stores…
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8 JuneDIY
B&Q announces sales overhaul with 700 employees consulted over new roles
B&Q has announced that it is to make changes to its sales processes with 700 employees consulted over the changes. The DIY retailer announced proposals to simplify the way it sells kitchens and bathrooms so that customers only deal with one member of staff. B&Q has said that as a…
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7 JuneDepartment Stores
House of Fraser to shutter 31 stores
Embattled department store chain House of Fraser has announced it is to close 31 stores as part of its CVA proposals, due to its current property portfolio being “unsustainable in its current form”. Following a comprehensive review of the group’s entire property portfolio, the directors of the company has identified…
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6 JuneEconomy
Poundworld buyer pulls out
The future of discount retailer Poundworld has been cast into doubt following Alteri Investors withdrawal from their buyout. Other bidders are queuing up however with founder Chris Edwards rumoured to be considering re-acquiring the 355-store chain. He sold the chain to TPG for £150m and then took over at rivals…
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6 JuneUncategorized
Carpetright secures 92% of £60m CVA funds
Embattled retailer Carpetright has managed to secure the majority of the £60m funding it needs to fund its company voluntary agreement (CVA) and restructuring costs. In April, the company proposed an issue of 232.5 million new shares through a placing and an open offer priced at 28p per share. The…
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4 JuneEconomy
Mothercare vote mishap puts CVA under threat
Mothercare’s plans for a company voluntary agreement (CVA) to stave off further problems, have been plunged into uncertainty after a mistake was made during the counting of votes last week. It was thought that the CVA would see Mothercare’s Children’s World company pay off its debts. But last week’s vote…
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4 JuneHigh Street
Poundworld sale rumoured to be edging closer
Poundworld is reportedly edging closer to a rescue deal with its owners TPG are rumoured to be finalising the terms of a sale to Alteri Investors. It was reported today that Alteri Investors, which is backed by private equity firm Apollo Management and is a former owner of Austin Reed,…
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