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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Nov- 2024 -21 NovemberClothing & Shoes
Superdry warns of sales decline following stock exchange departure
Superdry has warned that its sales for the current financial year will continue to fall, following its departure from the London Stock Exchange to focus on its new restructuring plan. In documents filed with Companies House for the 52 week period ended 27 April 2024, the group reported a 22%…
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19 NovemberNews-In-Brief
Today’s news in brief-19/11/24
Morrisons has achieved a significant reduction in its debt, cutting it by £2.4bn as part of a major restructuring. Since the start of 2023, the supermarket’s debt has dropped from £6.2bn to £3.8bn, supported by a £370m ground rent deal with Song Capital. The restructuring extended Term Loan Facilities to…
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19 NovemberNews
Morrisons slashes debt by £2.4bn following restructuring
Morrisons has announced a substantial reduction in its debt following a major restructuring process, lowering debt by £2.4bn. In an official announcement, the supermarket chain has confirmed that since the beginning of 2023 its debt fell from a peak of £6.2bn to £3.8bn. This includes a further repayment of an…
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14 NovemberDIY
CDS Superstores acquires 70 Homebase stores out of administration
The Range and Wilko owner CDS Superstores has acquired 70 Homebase UK stores after the DIY retailer collapsed into administration. Gavin Park, Gavin Maher and Adele Macleod of Teneo Financial Advisory Limited were appointed as joint administrators of HHGL Limited and Hampden Group Limited, which trade under the Homebase name.…
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Oct- 2024 -30 OctoberComment
How does a turnaround specialist help retailers improve their performance?
Erin Brookes’ journey into the world of retail consultancy is a testament to how passion, experience, and adaptability can shape a career in an ever-evolving industry. Now managing director and head of Retail at Alvarez & Marsal (A&M), Brookes’ career has spanned across operational and consulting roles, from working on…
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24 OctoberClothing & Shoes
Frasers calls for Boohoo to appoint Mike Ashley as CEO
Frasers Group has called on Boohoo to appoint its founder Mike Ashley as director and CEO of the struggling online company, after slamming the “continued incompetence” of the current Boohoo board amid an “abysmal” trading performance. In an open letter to Boohoo, Frasers urged the company to remove outgoing CEO John…
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14 OctoberDepartment Stores
Selfridges’ property value falls by more than £600m
The value of Selfridges’ property portfolio plunged by more than £600m last year, according to The Sunday Times.The Times reported that accounts for the department store’s property assets showed its £3.1bn property portfolio had been marked down by £638.6m by valuers, a fall of 20.6%. It also reported that over…
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8 OctoberDepartment Stores
Saudi Arabia acquires 40% stake in Selfridges
Saudi Arabia’s Public Investment Fund has acquired a 40% stake in Selfridges after purchasing the shares previously held by collapsed Austrian firm Signa. Following the acquisition, Central Group will own a 60% stake in the department store, while PIF will hold 40% of both Selfridges Group’s operating and property companies. The…
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1 OctoberNews
Today’s news in brief-1/10/24
Mulberry has turned down an £83m acquisition bid from Frasers, arguing it undervalues the company’s potential. Frasers offered 130 pence per share for a 36.8% stake, prompting Mulberry’s board, backed by majority shareholder Challice, to reject the offer and focus on CEO Andrea Baldo’s turnaround strategy. Authentic Brands Group has…
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1 OctoberDIY
Dobbies to close 17 stores as it unveils restructuring plan
Dobbies Garden Centres Limited has launched a restructuring plan that will see the closure of 17 unprofitable stores to address “historically uneconomical rent costs and ensure a return to sustainable profitability”. Dobbies will close 11 main sites, and six little dobbies sites, which will impact 465 colleagues, of which 82…
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