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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May- 2018 -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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1 MayHigh Street
Carpetright expects £9m profit drop
Carpetright has warned pre-tax profits will fall £9m for the year ending 28 April 2018. According to the carpet retailer this performance, combined with that of the previous nine months, will result in full year like-for-like sales falling by 3.6%. Like-for-like sales in Europe fell 8.3% in the final quarter,…
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Apr- 2018 -23 AprilDIY
Wesfarmers entices Homebase bidders with £100m dowry
Potential bidders for Homebase are being enticed by a sizeable dowry as its owners Wesfarmers ask for initial takeover bids to be submitted by the 23 April. The Australian owners of the DIY chain are looking for a fast exit from the UK market and sources close to Wesfarmers say…
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19 AprilDepartment Stores
Store closure fears loom as House of Fraser appoints advisors
House of Fraser has appointed KPMG to advise the company on a restructuring plan, raising speculation that a number of stores may be about to close. The consultancy specialists are expected to look at all of the department store’s options including a Company Voluntary Agreement. The appointment is understood to…
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19 AprilPeople Moves
Mothercare chairman announces retirement
Mothercare, retailer for parents and young children, has announced that Alan Parker has retired from his position as non-executive chairman. In a statement the retailer thanked Alan for “his calm leadership through a challenging period”, and “his support and encouragement for the board and the significant contribution he has made…
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12 AprilDIY
Carpetright to close nearly a quarter of stores, affecting 300 jobs
Carpetright is preparing to close nearly a quarter of its 300 stores in a restructuring plan as it struggles to avoid administration. Today (12 April) the company released a statement saying it had entered a Company Voluntary Agreement (CVA), which if approved, would lead to the closure of 92 outlets…
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