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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May- 2018 -24 MayHigh Street
Poundworld to close 117 stores by 31 August
Poundworld is looking to close 117 of its 355 UK stores by 31 August as part of its CVA proposal, it has been revealed. The Grocer reports it has seen a document detailing the proposals, which suggest almost a third of its stores would be set to close and rent…
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21 MayEconomy
M&S could close 40 more stores
M&S could close 40 more stores according to reports, bringing the total closed stores to 100 as it continues to struggle with bad economic weather on the high street. So far 20 of the chain’s stores have already closed down impacting 900 staff members, with staff finding out today whether…
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18 MayHigh Street
34 Carluccio’s restaurants to close after it announces CVA
Italian restaurant chain Carluccio’s has announced it is to close 34 restaurants as part of a recently announced company voluntary agreement (CVA). As many 103 UK sites are also set to “exit” as part of restructuring at the company. The CVA, yet to be approved by creditors will see the…
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18 MayOnline & Digital
Online retail jumps 19% in April
UK online retail sales went from strength to strength in April, up 18.8% year-on-year (YoY) according to the latest figures. The IMRG Capgemini e-Retail Sales Index showed it was the highest YoY increase since November 2016, despite the dampening effect of Easter falling in March this year. There was a…
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10 MaySupermarkets
Morrisons announces strong start to 2018
Supermarket giant Morrisons has reported a strong start to 2018, with like-for-like sales increasing by 3.4% during the 13 weeks to 30 April. The figure is comprised of retail sales, 3.0%, and wholesale, 0.4%. Total sales were up 2.8% (up 5.8% including fuel) as a result of store closures in…
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Apr- 2018 -26 AprilDIY
Bunnings reports ‘significant’ decline in sales
Bunning’s retail sales decreased by 13.5% to £211m for the third quarter of the 2018 financial year. The DIY retailer said the severe March weather significantly affected trading, particularly in the seasonal gardening and outdoor living categories. However, Michael Schneider, group managing director, said “satisfactory progress has been made…
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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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6 AprilHigh Street
Sainsbury’s ‘considered’ Mothercare acquisition
Sainsbury’s considered acquiring embattled retailer Mothercare but decided against making an offer, it has emerged. According to the Press Association the supermarket’s deals team had been monitoring the situation regarding the baby retailer over the past few months, with a view to make a potential acquisition. However Sainsbury’s decided against…
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Mar- 2018 -14 MarchEconomy
Morrisons reports third consecutive year of profit growth
Supermarket giant Morrisons has revealed profit growth of 16.9% to £380m, in a third consecutive year of positive financial growth. The group’s like-for-like sales also rose to 2.8% in 2018, compared with 1.9% the previous year, and revenue increased by 5.8% to £17.3bn. In the trading update the group said…
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7 MarchClothing & Shoes
New Look announces CVA proposal, 980 staff at risk
Clothing chain New Look has announced company voluntary agreement (CVA) proposal that will look to close up to 60 stores, reduce rental costs and potentially make up to 980 staff members redundant. Under the proposal, the fashion retailer has identified 60 out of its total 593 stores in the UK…
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