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 -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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1 JuneEconomy
Mothercare relegated from FTSE 100
Troubled retailer Mothercare has been relegated from the FTSE 100 following financial woes that have seen it enter a CVA and close 50 stores. Analysts suspect that the relegation will see a further negative effect on share prices following the 48% share price drop it has already seen. The retailer…
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May- 2018 -31 MayDepartment Stores
TUC, Usdaw launch petition calling for Marks and Spencer transparency
Shopworkers’ trade union Usdaw has joined with the Trades Union Congress (TUC) to launch a petition calling on Marks and Spencer to immediately open up a dialogue with the union to ensure staff are properly represented throughout its programme of store closures. Paddy Lillis, Usdaw General Secretary Elect, said: “All staff…
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25 MayDIY
Homebase sold for £1 putting 11,000 jobs at risk
Australian retail group Wesfarmers has sold Homebase to HMV owner Hilco Capital for a token £1. Hilco specialises in restructuring and refinancing other companies and will acquire all Homebase assets, including the brand, its store network, freehold property, property leases and inventory for the nominal amount. Homebase was acquired by…
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21 MayPeople Moves
Mothercare CEO takes £132k pay cut and rejoins
Mark Newton-Jones has been re-appointed as CEO of Mothercare on a salary of £480,000. The former CEO is being reinstated only a month after his resignation. David Wood, the former Tesco executive who had replaced Newton-Jones will now become Mothercare’s group managing director. A spokesperson for Mothercare told Retail Sector:…
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18 MayHigh Street
34 Carluccio’s restaurants to close after it announces CVA
Italian restaurant chain Carluccio’s has announced it is to close 34 restaurants as part of a recently announced company voluntary agreement (CVA). As many 103 UK sites are also set to “exit” as part of restructuring at the company. The CVA, yet to be approved by creditors will see the…
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