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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Jul- 2018 -10 JulyHigh Street
Deloitte announces first wave of Poundworld store closures
Deloitte, which is handling the administration of Poundworld, has announced the closure of 25 stores resulting in around 242 staff redundancies. Administrators said the decision will not impact on the potential sale of the remaining business, which will include a significant number of stores, the head office and distribution centre.…
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2 JulyHigh Street
Estate agents join high street casualties as insolvencies rise
Around 153 estate agents have gone insolvent in the last year, up from 148 the year before, according to a new report. Accountancy firm Moore Stephens found that as the online estate agency market continues to grow, firms such as Hatched, Rightmove, Yopa and Zoopla have squeezed high street rivals.…
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Jun- 2018 -27 JuneEconomy
One in four companies hit by ‘domino effect’ of another’s insolvency
Some 26% of UK companies have suffered a hit to their finances following the insolvency of a customer, supplier or debtor in the last six months, according to new research from R3, the insolvency and restructuring trade body. The research found the financial impact of the insolvency of another business…
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26 JuneHigh Street
Carpetright woes as CVA activity results in £70.5m loss
Carpetright has reported a £70.5m loss before tax as a result of the cost and accounting impacts of the group’s restructuring activity. Total group revenue decreased by 3.0% to £443.8m and like-for-like sales for the full year declined by 3.6%, with the first eight weeks of the new financial year…
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25 JuneEconomy
More than 130 jobs cut as Mattressman enters CVA
Mattressman has announced it is to enter a Company Voluntary Agreement (CVA) which will see the closure of 14 of its 25 stores. The store closures will see 136 jobs cut as the bed retailer looks to “downsize” and begin a “restructuring process”. Mattressman looked to be in rude health…
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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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