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.
-
Jul- 2019 -12 JulyHigh Street
Marks and Spencer’s fashion boss departs
Marks and Spencer has announced the departure of Jill McDonald as managing director of clothing and home after two years in the role. The departure follows a challenging year for the one of Britain’s largest retailers, after pre-tax profits fell by 10%, clothing and home sales fell by 3.6% year-on-year,…
Read More » -
4 JulyClothing & Shoes
Monsoon creditors agree to CVA
Monsoon Accessorize creditors have given the green light on the retailer’s CVA plans which will see over half of its stores receive rent reductions. The reductions, which were proposed last month, will see cuts to rents of between 25%- 65% across 135 out of its 258 stores after the retailer…
Read More » -
4 JulyHigh Street
Superdry appoints former John Lewis and New Look CFOs
Fashion retailer Superdry has appointed Helen Weir and Alastair Miller to its board as non-executive directors, taking the role of senior independent director and chair of the audit committee respectively. Weir was most recently CFO of Marks and Spencer, a role she held from 2015 to 2018. Prior to this…
Read More » -
Jun- 2019 -25 JuneDIY
Carpetright restructure bears fruit amid return to sales growth
Carpetright has reported its business turnaround is “on track” amid an “encouraging return to positive like-for-like sales growth”. The carpet retailer revealed in a trading update for the year ending 27 April 2019, that despite a “challenging first half” with group like-for-like revenues down 12.7%, UK like-for-like sales in the…
Read More » -
25 JuneClothing & Shoes
New Look reports £522m loss amid cost saving efforts
Fashion retailer New Look has reported a statutory loss before tax of £522.2m in its full year results for the 53 Weeks to 30 March 2019. This was compared to the previous year’s loss of £190.2m, however the company said this was “principally driven” by £423.3m goodwill and brand impairment…
Read More » -
17 JuneAdvice
Tailoring the consumer experience
Consumers are increasingly looking for more personal, community-orientated shopping experiences, with a recent IRI survey highlighting that over 50% of UK customers prefer to shop local. While 10 years ago this meant visiting the 7-11 corner shop, a high street butcher or your local fashion store, the revolution of retail…
Read More » -
12 JuneHigh Street
Arcadia creditors approve CVA proposals
Retail group Arcadia, has announced that all seven of its company voluntary arrangements (CVAs) have today been approved by the required majority of the companies’ creditors, including its pension trustees, suppliers and landlords. The approval allows the retailer to restructure, closing around 23 stores, in a bid to prevent going…
Read More » -
12 JuneDepartment Stores
Sports Direct challenges Debenhams CVA
Department store Debenhams has confirmed Sports Direct is among the parties which have sent applications to challenge its CVA which was voted through by creditors on 9 May. Debenhams went under the control of its lenders when it entered a pre-pack administration in April. Debenhams Group Holdings Limited, its subsidiaries…
Read More » -
7 JunePeople Moves
New Look founder to step down
Following completion of its restructuring transaction announced on 3 May 2019 New Look’s founder, Tom Singh, has decided to retire at the end of June. Singh founded the fashion retailer in 1969 turning a single store in Taunton into a high street regular with around 400 stores across the UK…
Read More » -
May- 2019 -23 MayHigh Street
Arcadia to close 23 stores
Phillip Green’s Arcadia group has announced plans to close 23 stores as part of its restructuring plan, affecting up to 520 employees. The proposal will mean Burton, Dorothy Perkins and Topshop stores will close, in addition to rents being cut at another 194 stores. It added that the remaining 349…
Read More »
