Turnaround
Turnaround in the UK retail sector refers to the strategies and interventions businesses deploy to recover from financial distress, operational challenges, or market disruption. For store owners, retail executives, and supply chain professionals, understanding turnaround efforts is crucial to navigating periods of change and identifying opportunities for growth or collaboration. Retail Sector’s coverage of turnaround includes breaking news on struggling retailers, analysis of restructuring plans, insights into leadership changes, and case studies of successful recovery strategies. We provide retail professionals with the information they need to anticipate market shifts, assess risks, and learn from the operational and strategic decisions driving transformation across physical stores, ecommerce, and omnichannel retail.
-
Jun- 2023 -12 JuneHigh Street
Wilko calls in advisors ahead of rent cut talks
Wilko has reportedly appointed property advisers ahead of crunch talks with landlords as the group looks to cut rents across its estate. According to Sky News, the group has drafted in property agent CBRE ahead of formal negotiations with shop owners, which are expected to start in the coming weeks.…
Read More » -
May- 2023 -24 MayFeatures
Will businesses survive after entering into administration?
Can you tell me about yourself? I am a chartered accountant and I lead the expanding retail and consumer goods sector, responsible for defining and implementing the Mazars strategy for our consumer clients. I’m also a consulting partner that brings insight and value to clients by directing our full suite…
Read More » -
24 MayDepartment Stores
M&S FY sales and profits jump as turnaround strategy bites
M&S has seen its full-year profits and sales increase despite the ongoing cost-of-living crisis and tough economic conditions over the period, with the group attributing its performance to its latest turnaround strategy. Profit-before-tax rose by 21.4% to £474.7m, up against £391.7m the prior year, while group sales were up by…
Read More » -
22 MayHigh Street
Wilko eyes CVA to slash costs
Wilko is considering entering into a company voluntary arrangement (CVA) to renegotiate rents and possibly close some of its stores in a bid to cut costs across the group, according to Bloomberg. Bloomberg reports that the struggling discount chain has reached out to PwC to explore its restructuring options, which…
Read More » -
19 MaySupermarkets
John Allan to step down as Tesco chair amid personal conduct allegations
John Allan is set to step down as the chairman of Tesco following allegations regarding his personal conduct with colleagues. Tesco noted that in recent weeks, four allegations have been made in the media in relation to his personal conduct, and while three of these have been “vigorously denied” by…
Read More » -
Apr- 2023 -24 AprilEconomy
Retail profit warnings fall to lowest level since 2020
UK-listed retailers issued five profit warnings in Q1 2023, marking a decrease from the nine issued in both Q4 2022 and Q1 2022, according to the latest data from EY. Despite representing the sector’s lowest quarterly total since Q4 2020, it said “persistent inflation, high interest rates and tightening consumer…
Read More » -
10 AprilHigh Street
Wilko collapses into administration, 12,000 jobs at risk
High street homeware retailer Wilko has collapsed into administration, putting around 12,000 jobs at risk. In an open letter confirming the news, CEO Mark Jackson said the business had left “no stone unturned” in an attempt to keep the business afloat but has conceded it has “no choice but to…
Read More » -
5 AprilFeatures
Falling into administration – should you be worried?
Since the beginning of a new decade, we have heard of many high-profile retailers such as Made, Missguided, Joules, Paperchase, M&Co and Kath Kidston fall into administration to varying degrees of success. This is no coincidence; during 2022, administrations were actually 55% higher than the previous year, according to government…
Read More » -
Mar- 2023 -23 MarchClothing & Shoes
Superdry offloads Asia Pacific IP assets in £40m deal
Superdry has announced it has agreed to sell its intellectual property assets in the Asia Pacific region to Cowell Fashion Company in a $50m (£40m) deal. Cowell is an experienced local operator within the APAC region and has been listed on the South Korean stock exchange since April 2015. Cowell’s…
Read More » -
13 MarchClothing & Shoes
Superdry appoints advisers to help cut costs
Superdry has appointed Interpath Advisory to help it cut costs after a number of profit warnings, according to reports from Sky News. Interpath is expected to focus on Superdry’s cost base and industry experts told Sky that this could cause a number of job losses. The company will also likely…
Read More »
