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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Jul- 2024 -26 JulyNews
Today’s news in brief-26/7/24
Boohoo has introduced “Boohoo Brands” a new marketplace featuring over 200 labels including luxury brands like Alexander McQueen and Gucci. This move aims to consolidate its position as a leading fashion and lifestyle destination, leveraging partnerships to enhance customer choices. THG plans to cut 171 jobs across multiple divisions while…
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26 JulyHealth & Beauty
THG to axe 171 roles as staff ordered to return to office full-time
THG is reportedly set to axe 171 jobs across the business whilst “insisting” that staff return to the office five days a week, The Financial Times has reported. The company is said to have told employees this week that it expected to make a total of 171 redundancies across six divisions,…
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22 JulyDepartment Stores
Saudi wealth fund looks to up Selfridges stake to 50%
Saudi Arabia’s Public Investment Fund has reportedly made an offer to raise its stake in Selfridges from 10% to 50%, according to documents seen by Bloomberg News.The move comes after the department store’s co-owner Signa fell into insolvency earlier this year. The PIF currently owns a 10% share in the…
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17 JulyHealth & Beauty
Mike Jatania enters exclusivity with Body Shop over rescue deal
Businessman Mike Jatania’s consortium, Auréa Group, has officially entered into an exclusivity agreement with the administrators of The Body Shop, FRP Advisory. It is understood from a statement that Auréa’s management team will be led by former Molton Brown and Erno Laszlo CEO Charles Dento, following the competitive bidding process. …
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12 JulyNews
Today’s news in brief-12/7/24
Carpetright, facing intensified competition and reduced demand, has enlisted PwC to explore a potential sale. This move, likely to proceed as a pre-pack deal or a company voluntary agreement, aims to stabilise the company amidst financial pressures exacerbated by recent cyberattacks and operational restructuring efforts. The retailer has already initiated…
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Jun- 2024 -27 JuneClothing & Shoes
Quiz renews bank facility amid weakened UK sales
Quiz has renewed its £4m bank facility for a further 12 months to 30 June 2025, as sales within the UK have continued to be impacted by the ongoing cost-of-living pressures since the year ended on 31 March. As of yesterday (26 June), the fashion retailer had net borrowings of…
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24 JuneNews
Today’s news in brief-24/6/24
Shein’s plans for a £50bn flotation in London are under threat due to mounting concerns from Chinese officials over negative portrayals of the company in the UK. The British Fashion Council has expressed significant reservations about Shein’s business practices, particularly around labor exploitation. Although the company is based in Singapore,…
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24 JuneTechnology
Getir shareholders to split business in two amid UK market exit
Getir’s shareholders have reportedly backed a restructuring that means the Abu Dhabi state fund Mubadala will inject an investment of up to $250 (£197m) into the food delivery app, according to Sky News. This comes after Getir held a general meeting yesterday (23 June), where investors approved to split it…
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18 JunePeople Moves
Superdry appoints global technology director
Superdry has appointed Dafydd Moore, a former IT boss at Halfords, as its new global technology director. Moore joins the group from the cycling chain, where he was group director of IT Strategy and Architecture, and before that, he was the global director of IT strategy, architecture and innovation at…
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17 JuneNews
Today’s news in brief-17/6/24
Superdry’s shareholders have approved a restructuring plan to rescue the company from financial difficulties. This plan, following the approval of creditors, includes a £10m equity raise and delisting from the stock market. Founder Julian Dunkerton will underwrite the equity raise, which the company believes will provide sufficient liquidity for its…
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