River Island reportedly drawing up rescue plan

British retailer River Island is believed to be drawing up a formal restructuring plan that could potentially put a number of stores at risk.

According to Sky News, the company is working with advisors from PricewaterhouseCoopers (PwC) on a plan that could emerge within weeks.

It is not yet clear how many stores and jobs may be impacted under the rescue deal, with associated proposals still subject to sign-off. No firm decisions regarding the future of the business have yet been made.

At the request of FashionUnited, a spokesperson for River Island declined to comment.

Evidence of River Island’s financial struggles has long been prevalent. In its most recent financial statement with Companies House, the retailer, which currently operates around 230 stores across the UK, warned of mounting financial concerns.

In the report, River Island cited “the pressures of a highly competitive and changing retail environment combined with increased economic uncertainty” as key business risks. Supply chain disruptions and labour price increases were also noted.

For the 52 weeks to December 30, 2023, River Island reported a pre-tax loss of 33.2 million pounds, while turnover fell over 19 percent to 578.1 million pounds.

Sky News had already reported back in January 2025 that River Island had hired advisors from AlixPartners as it looked to improve profits and cut costs. This latest news of PwC’s appointment suggests the retailer has parted ways with AlixPartners, the media outlet stated.