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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Dec- 2024 -20 DecemberClothing & Shoes
Boohoo bans journalists from boardroom battle with Mike Ashley
Boohoo has reportedly blocked journalists from attending its boardroom showdown with Mike Ashley, following an ongoing battle over the fast-fashion company’s governance.According to The Telegraph, Boohoo told journalists that they will not be able to attend its annual general meeting today (20 December), where shareholders will vote on Frasers’ demands…
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11 DecemberAdvice
Theo Paphitis: The secrets behind his retail empire
Theo Paphitis, known to millions as one of the original Dragons on the BBC’s Dragon’s Den, is much more than a television personality. As the owner of Ryman, Robert Dyas, and Boux Avenue, Paphitis has spent decades navigating the complexities of retail. His career is a testament to entrepreneurial grit,…
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9 DecemberClothing & Shoes
Boohoo calls on shareholders to reject Mike Ashley’s board bid
Boohoo has urged its shareholders to vote against Mike Ashley’s board appointments ahead of its AGM on 20 December. In an update posted this morning, Boohoo revealed that independent proxy adviser Institutional Shareholder Services (ISS) has recommended shareholders vote against Fraser’s bid for board representation which would see Ashley as…
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3 DecemberNews-In-Brief
Today’s news in brief-3/12/24
Boohoo has repaid £50m of its £97m term loan following a £39.3m oversubscribed fundraising effort. The move aligns with its turnaround strategy after half-year losses tripled to £27.4m and revenue dropped 15% to £619.8m. CEO Dan Finley called Boohoo “significantly undervalued” as major shareholders, including the Kamani family, boosted their…
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3 DecemberClothing & Shoes
Boohoo repays £50m of £97m loan following fundraising drive
Boohoo has partially repaid its £97m term loan following the conclusion of a recent refinancing drive, as the group continues a turnaround plan after losses tripled in its half-year results. Its board confirmed it has notified lenders of the repayment of £50m of the £97m term loan, with the repayment set…
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Nov- 2024 -26 NovemberNews-In-Brief
Today’s news in brief-26/11/24
AO World has raised its full-year profit forecast to between £39m-£44m after reporting a 30% rise in pre-tax profits to £17m for the six months ending 30 September. Despite adverse summer trading conditions due to wet weather, which affected cooling product sales, AO’s B2C retail revenue grew 13%. Group revenue…
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26 NovemberSupermarkets
Asda turnaround could take 3-5 years, says incoming chair
Former Asda CEO Allan Leighton has said that a turnaround of the business could be a three to five year process, as he is set to help lead turnaround efforts in his new role as chair of the group. Speaking to The Guardian shortly following his appointment, Leighton said that his…
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19 NovemberNews-In-Brief
Today’s news in brief-19/11/24
Morrisons has achieved a significant reduction in its debt, cutting it by £2.4bn as part of a major restructuring. Since the start of 2023, the supermarket’s debt has dropped from £6.2bn to £3.8bn, supported by a £370m ground rent deal with Song Capital. The restructuring extended Term Loan Facilities to…
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19 NovemberClothing & Shoes
Asos CEO receives £300k pay boost despite widening losses
Asos CEO José Antonio Ramos Calamonte received a bumper pay rise of 44% following a £300k bonus despite the fashion retailer’s losses widening to £379.3m for the year to 1 September. The annual bonus of £361,585, which GMB Union called “rewarding spectacular failure” in The Guardian, comes as Asos saw…
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14 NovemberNews-In-Brief
Today’s news in brief-14/11/24
The Range and Wilko owner, CDS Superstores, has acquired 70 Homebase stores after the DIY retailer entered administration. This move, intended to save about 1,600 jobs, will allow Homebase stores to continue operating under CDS while administrators from Teneo Financial Advisory manage the transition. Homebase’s decline, attributed to low consumer…
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