Store Closures
This coverage examines store closure trends within the UK retail sector. Reporting highlights closure driversโsuch as lease negotiations, underperformance, and market shiftsโimpact on regional footfall, staff restructuring, and lease or property plans. Content is tailored for retail directors, operations managers, and property teams managing portfolio optimisation and change strategy.
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Jul- 2018 -10 JulyHigh Street
Deloitte announces first wave of Poundworld store closures
Deloitte, which is handling the administration of Poundworld, has announced the closure of 25 stores resulting in around 242 staff redundancies. Administrators said the decision will not impact on the potential sale of the remaining business, which will include a significant number of stores, the head office and distribution centre.…
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9 JulyHigh Street
Mothercare adds 10 store closures to CVA after Childrens World administration
Mothercare has earmarked another 10 stores for closure as part of its CVA bringing the total to 60 stores, after the groupโs Childrens World division entered administration. The new store closures mean that up to 900 jobs will be lost by June 2019. The news comes after the CVA proposal…
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Jun- 2018 -20 JuneHigh Street
EXCLUSIVE: Starbucks says ‘no UK store closures’ after US announcement
Starbucksโ recent US store closures announcement โdoes not affectโ its UK stores, Retail Sector has learned. The clarification comes days after the US business said it would increase its store closure rate to 150 amid weak sales forecasts and a falling share price. Historically the company closes 50 underperforming stores…
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May- 2018 -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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Apr- 2018 -9 AprilHigh Street
Mothercare latest to consider CVA store closures
Mothercare is reportedly considering the possibility of closing a third of its stores and reducing its rents through a Company Voluntary Arrangement (CVA). According to reports Mothercare would look to close around 47 of its 143 stores if a CVA is agreed with lenders. Mothercare would join a host of…
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Mar- 2018 -21 MarchHigh Street
Carpetright prepares for store closures in CVA plan
Carpetright is exploring a possible company voluntary agreement (CVA) which would allow it to to speed up the closure of underperforming stores. The beleaguered flooring retailer has announced it is seeking an insolvency deal to allow it to continue trading while it negotiates rent reductions and debt restructuring. The number…
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14 MarchHigh Street
3,000 Toys R Us jobs to go as it confirms โcontrolled store closuresโ
All UK Toys R US stores are poised to shut down after administrators failed to find a buyer, resulting in a store closure programme and a possible 3,000 job losses. Toys R Us appointed Moorfields Advisory partners Simon Thomas and Arron Kendall to oversee an administration at the end of…
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Jan- 2018 -31 JanuaryClothing & Shoes
Hundreds of jobs at risk as M&S announces store closures
Marks and Spencer has announced plans to close 14 of its stores this year in a move which will affect 468 employees. The closures are part of the British retailerโs โtransformation planโ aiming to modernise its stores and meet the changing expectations of customers. Six stores will close by the…
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