River Island news and archive

Restructuring retail: Lifeline or legalised pause button?

Store closures, rent cuts, and creditor cramming – restructuring plans have become a familiar headline in UK retail. But beyond the legal jargon, questions are mounting: Are these plans really turning businesses around, or simply buying time? And is the sector offloading its problems onto landlords, rather than fixing what is broken? River...

Retail

River Island job cuts now expected to surpass 200 roles

As River Island embarks on its now court-backed restructuring plan, details of how the retailer intends to rescue itself are coming into view. According to new reports, the company is preparing to cut around 110 roles as part of the strategy, bringing its number of anticipated redundancies for this year to over 200. Media outlet Drapers reported...

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Business

River Island rescue plan gets court approval, what now?

River Island has secured the much-needed green light from the High Court for its rescue plan, allowing it to move forward with proposed store closures and begin the search for fresh funding. With the court’s backing, the retailer now has the go-ahead to close 33 UK stores and cut rents across an additional 71. From landlords, it will also...

Retail

British landlord appoints lawyers as Poundland and River Island plot store closures

British Land, a commercial property company, has reportedly appointed lawyers to look into the rescue deals of struggling high street chains Poundland and River Island. The firm is said to have been instructed by Hogan Lovells to seek further information on the restructuring plans for the two retailers, according to Sky News, to which British...

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Business

River Island fails to secure creditor approval over restructuring plan

British retailer River Island has failed to secure crucial approval from its creditors for its proposed restructuring. The rescue plan now rests on a High Court judge who will make a formal decision on the matter on July 7. Despite around 80 percent of the retailer’s creditors by value choosing to support the plan, River Island was unable to...

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Business

River Island could collapse ‘within weeks’ if rescue plan isn’t approved

A new report has suggested that River Island could collapse “within weeks” if its “radical” rescue plan isn’t approved by landlords and creditors. This is according to a formal restructuring report drawn up by PwC – currently serving as the British retailer’s advisors – seen and reported on by The Telegraph. In the 800-page document, it is said...

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Retail

From New Look to Select Fashion: Inside the retail collapse threatening the UK high street

The UK retail landscape continues to face mounting challenges. Amid rising operational costs, the long-tail impact of the pandemic and ongoing supply chain disruptions, many businesses are navigating an increasingly volatile environment. An uncertain outlook remains for a significant portion of the sector – and the country is on track to see a...

Retail

River Island to close 33 stores, putting hundreds of jobs at risk amid restructuring

British high street stalwart River Island has announced plans to close 33 of its 230 UK stores, a move that puts hundreds of jobs in jeopardy as it seeks to restructure its operations in response to shifting consumer habits and rising costs. As reported by the BBC, the company is also negotiating rent reductions across a further 71 locations....

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Business

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...

People

River Island Group merchandising director leaves company after 26 years

Paul Sprackling, group merchandising director of the British fashion chain River Island, departed the company after 26 years. He announced his departure via a post on LinkedIn. A group merchandising director is typically responsible for an action plan that physical and digital stores use to present their products, with the aim of attracting...

Fashion|In Pictures

River Island launches resort wear in collaboration with Del Maar

British fashion retailer River Island has launched a resort wear collaboration with Latin-Australian brand Del Maar as part of its ‘Behind The Design’ series celebrating independent creatives. The limited-edition River Island x Del Maar collection draws inspiration from the coastal lifestyle embraced on Australian shores and features bold...

People

Suzy Slavid returns to River Island as trading managing director

River Island has named Suzy Slavid its new trading managing director. It marks a return to the British retailer for Slavid, who had initially served as merchandise manager of River Island’s kidswear and ladieswear for over 13 years. Slavid left the company in 2012, however, to become director of merchandising and marketing at Boden, where she...