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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Sep- 2024 -6 SeptemberHealth & Beauty
New Body Shop owner lines up working capital amid rescue deal
The new owners of The Body Shop are in advanced talks to secure more than £30m in working capital from Hilco Capital as they finalise a deal to buy the chain out of administration, according to Sky News. The news comes after businessman Mike Jatania’s consortium, Auréa Group, officially entered…
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2 SeptemberNews
Today’s news in brief-2/9/24
John Lewis Partnership (JLP) has refuted recent claims of additional job cuts and management restructuring. Earlier, reports suggested management team overhauls across 34 stores could lead to more job losses beyond the 153 roles already announced last month. JLP clarified that these changes aim to enhance operational flexibility and customer…
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2 SeptemberDepartment Stores
John Lewis denies reports of further job cuts
John Lewis has denied that it is considering more job cuts and restructuring its management team, following reports over the weekend. It comes following resorts from The Sunday Times that claimed a revamp of management teams at 34 of its stores would lead to even more cuts to staff, including…
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Aug- 2024 -30 AugustDIY
Dobbies plans restructuring process
Dobbies, the UK’s biggest garden centre operator, is reportedly planning a financial overhaul which could result in store closures or steep rent cuts, according to Sky News. The group, which is controlled by Ares Management, an American investor, is believed to be working with advisers at FTI on a restructuring…
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29 AugustNews
Today’s news in brief-29/8/24
Retail footfall in the UK experienced a slight increase of 0.9% from July to August, with shopping centres and retail parks leading the growth. High streets saw a minor decline, initially impacted by summer holidays and protests but later boosted by events like Taylor Swift’s concert. The return to office…
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14 AugustNews
Today’s news in brief-14/8/24
Inflation in the UK increased to 2.2% in July 2024, up from 2% the previous month, driven by less significant declines in energy prices compared to a year ago. The Office for National Statistics (ONS) reported that while gas and electricity prices fell by 7.8% and 6.8% respectively from June…
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9 AugustNews
Today’s news in brief-9/8/24
Recent riots and protests across UK towns have significantly deterred shoppers, leading to a 4.8% decrease in footfall across high streets and retail destinations. Regional cities like North Yorkshire and the West Midlands were hardest hit, experiencing declines as steep as 12.9%. The Retail Trust has reported an increase in…
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9 AugustClothing & Shoes
Under Armour swings to $300m loss amid decline in revenues
Under Armour has reported an operating loss of $300m (£235.0m) for the three months ended 30 June 2024, as its sales dropped across all regions and categories. The group saw its revenues decline 10% to $1.2bn (£940m). In North America revenue decreased 14% to $709m (£555.5m), and international revenue decreased…
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Jul- 2024 -30 JulyDepartment Stores
Selfridges CEO to step down after four years at company
Andrew Keith has announced he is stepping down from his role as CEO of Selfridges in the UK in order to “pursue new ventures”. Selfridges Group CEO André Maeder, who joined the company in May, is set to take over his responsibilities in the UK after Keith leaves the company this…
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29 JulyClothing & Shoes
Ted Baker plans to shut all UK stores within weeks
Embattled retailer Ted Baker is considering shutting all of its stores within the next few weeks, according to reports first revealed by The Sun newspaper. Ted Baker has already shuttered 15 stores across the UK, resulting in the loss of 245 jobs, after the business behind the brand, No Ordinary…
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