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 -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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18 MayHigh Street
Carpetright to issue shares to raise £60m fund ahead of CVA
Carpetright is to launch a proposed share issue in order to raise around £60m to help fund its restructure and recovery plans. The carpet retailer is planning to issue off 232,463,221 new ordinary shares by way of a placing and open offer at a price of 28 pence per new…
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17 MayHigh Street
Mothercare to shut 50 shops and restore CEO Mark Newton-Jones
Mothercare has announced as part of a Company Voluntary Agreement (CVA) it will shut 50 of its 137 stores with around 800 jobs axed. As part of its restructuring plan the parenting retail chain confirmed that a further 21 stores will see a rent reduction. Former CEO Mark Newton-Jones is…
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15 MayClothing & Shoes
Mothercare to speed up store closures and job cuts
Mothercare have announced they are set to speed up the closure of stores and cutting of jobs, in order to attract fresh funds from investors. The baby store chain confirmed to media that it was launching an equity fund as part of a restructuring and refinancing package. The new strategy…
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14 MayHigh Street
Poundworld suspends CVA as US owners receive expressions of interest
TPG Capital, the US owner of Poundworld, has delayed plans of a potential Company Voluntary Agreement (CVA) for the discount retailer as it has received expressions of interest for the company. Poundworld was due to undergo a CVA that would have seen the closure of 100 of its 355 stores…
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10 MayDepartment Stores
House of Fraser £43.9m loss revealed in new document
A document released by House of Fraser’s new owner C.Banner has revealed that the department store suffered a £43.9m loss in 2017. The slump was attributed to Brexit, London’s terrorist attacks and the ‘rapidly evolving’ retail market. The document was submitted to the Hong Kong Stock Exchange, where C.Banner announced…
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