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.
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Sep- 2018 -11 SeptemberDepartment Stores
Debenhams releases statement amid closure rumours to calm investors
Debenhams has released an official statement in response to rumours it was preparing to shutter stores and enter a CVA following the reported appointment of advisory firm KPMG. The department store said “following recent media speculation” it would issue its preliminary results on 25 October 2018 saying it expected a…
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10 SeptemberDepartment Stores
CVA and closure rumours loom as Debenhams appoints KPMG
Debenhams has reportedly appointed audit advisors KPMG to explore restructuring plans, prompting rumours of stores closures and a CVA. The Sunday Telegraph reported that the advisory firm had been assigned to draw up a turnaround plan which could result in a number of job cuts. The department store chain recently…
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Aug- 2018 -31 AugustDIY
Homebase ‘very likely’ to enter administration if CVA isn’t passed
The future of Homebase is to be decided today as creditors vote on a CVA which would see the closure of 42 stores. Hilco Capital, the DIY retailer’s owner said that the company was “very likely” to enter administration if the CVA is not passed. Some Homebase landlords plan to…
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21 AugustHigh Street
Office Outlet announces CVA proposal
Stationery retailer Office Outlet has announced a company voluntary arrangement (CVA) proposal to restructure its UK store estate as part of its ongoing turnaround strategy. The retail chain formerly known as Staples has spent the last two years performing an operational restructuring which it said has “significantly improved” its store…
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10 AugustDepartment Stores
House of Fraser site offline as administration threatens 17,500 jobs
House of Fraser has appointed administrators after talks with investors and creditors were “not concluded in a solvent solution”. The department store currently employs 17,500 people across its 59 stores of which 31 have already been earmarked for closure. Despite the administration all House of Fraser stores are expected to…
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9 AugustDepartment Stores
House of Fraser sets new deadline to secure funds
House of Fraser has set itself a new deadline to secure funding to avoid collapse. In a statement to the Luxembourg Stock Exchange, the company said that it would require an investment no later than 20 August. Earlier reports said the department store would make a final decision on its…
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9 AugustDepartment Stores
House of Fraser fate could be decided today
A decision could be made on the future of House of Fraser today as its creditors assess takeover bids made by Sports Direct’s Mike Ashley, retail tycoon Philip Day, and retail turnaround fund Alteri Investors. According to Sky News, PwC spent Wednesday (8 August) afternoon negotiating on the 169-year-old’s department…
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Jun- 2018 -20 JuneDepartment Stores
House of Fraser lenders agree to extend loans
House of Fraser has agreed an extension for its loans ahead of this Friday’s vote on a possible CVA that could see 31 stores close. According to the Press Association, the lender has conditionally agreed to a £125m loan as well as a £100m revolving credit facility providing the planned…
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15 JuneClothing & Shoes
H&M sales fail to hit expectations
The Swedish fashion brand H&M has revealed that it missed its sales expectations for the second quarter sales growth in its latest financial report. The retailer reported a shares decrease of 3.6% in early trading as well as unchanged sales in local currencies from March to May including VAT, meaning…
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12 JuneClothing & Shoes
New Look reports operating loss of £74.3m
New Look has reported an underlying operating loss of £74.3m in its latest financial results for the year to 24 March 2018. The embattled retailer had previously reported a 7.3% drop in revenue to £1.35bn for the year to 24 March 2018. In addition, the retailer decreased its UK like-for-like…
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