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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Jan- 2025 -24 JanuarySupermarkets
Morrisons to axe hundreds of roles as part of cost-cutting plans
Morrisons is set to cut more than 200 roles from its Retail People Team, in the same week that Sainsbury’s also announced widespread cuts across the business in order to shore up costs. As part of the cost reduction plan, Morrisons is proposing to remove the roles of regional people manager,…
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23 JanuarySupermarkets
Sainsbury’s to axe 3,000 roles and shut cafes and counters
Sainsbury’s is set to axe 3,000 roles across the business as part of restructuring plans that aim to “simplify” its central divisions and management structures.As part of its three-year Next Level strategy, there will be a 20% reduction in management roles, while it is also set to close its remaining…
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22 JanuaryNews-In-Brief
Today’s news in brief-22/1/25
River Island has engaged AlixPartners to manage cost reductions ahead of impending tax hikes in April. Despite a £33.2m pre-tax loss and a 19% drop in turnover to £578.1m for 2023, the retailer plans no formal restructuring affecting its 250+ stores. Waterstones reported a substantial rise in pre-tax profits to…
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22 JanuaryClothing & Shoes
River Island drafts in AlixPartners to tighten costs
River Island has brought in AlixPartners to work on a cost reduction and profit improvement exercise ahead of the planned tax rises in April, according to reports from Sky News. Precise details of the exercise were not clear but is not believed to encompass formal restructuring work that could lead…
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20 JanuaryNews-In-Brief
Today’s news in brief-20/1/25
Quiz is reportedly considering closing up to a third of its 60 stores as part of a restructuring effort to stabilise its business amid mounting financial pressures. The company is set to delist from the AIM market and return to private ownership following a shareholder vote earlier this month. Restructuring…
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20 JanuaryHigh Street
Quiz eyes store closures as costs mount
Quiz is reportedly considering closing up to a third of its 60-location portfolio as a way to cut costs and stabilise the business, according to The Telegraph. It comes as Quiz is also due to delist from the London Stock Exchange’s AIM market and return to private ownership, following a…
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15 JanuaryAnalysis
Is New Look right to close up shops?
The tax increases unveiled in the October 2024 budget have further complicated the outlook for retailers in the new year. One such high street retailer, New Look, which has managed to narrow its pre-tax loss to £21.7m in the year to March 2024, now faces the difficult task of balancing…
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13 JanuaryNews-In-Brief
Today’s news in brief-13/1/25
Asda announced a significant overhaul of its operations, cutting 13 regional manager roles and consolidating management of supermarkets and express stores into 22 sub-regions from 30. The changes, driven by poor Christmas performance with a 5.8% drop in sales and a decline in market share to 12.5%, mark Allan Leighton’s…
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13 JanuarySupermarkets
Asda axes regional manager roles in latest restructuring
Asda’s new chairman, Allan Leighton, has reportedly told staff that multiple regional manager roles will be axed in a bid to overhaul the business, after the group suffered poor sales over the Christmas period. According to The Telegraph, 13 regional manager roles will be cut as part of the restructuring…
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9 JanuaryClothing & Shoes
Boohoo urges vote against Frasers’ motion to remove founder
Boohoo has published a new letter urging shareholders to vote against an upcoming motion to remove Mahmud Kamani as director, following a demand by Frasers to oust the founder.In a new update, Boohoo said its board formed an independent committee composed of all directors other than Kamani to consider the…
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