It’s believed that British retailer River Island is creating a proper restructuring plan that would put a number of shops in danger.
Based on Sky Information, the corporate is working with advisors to PricewaterhouseCoopers (PWC) in a plan that would come up in a matter of weeks.
It’s not but clear what number of shops and jobs could be affected underneath the rescue settlement, with related proposals which might be nonetheless topic to the agency. Agency selections haven’t but been made about the way forward for the enterprise.
At Fashionunized, a River Island spokesman declined to remark.
The proof of River Island’s monetary struggles has prevailed for a very long time. In his most up-to-date monetary assertion with Firms Home, the retailer, who presently operates round 230 shops all through the UK, warned concerning the rising monetary considerations.
Within the report, River Island cited “the pressures of a extremely aggressive and altering retail surroundings mixed with higher financial uncertainty” as key industrial dangers. Provide chain interruptions and labor worth will increase have been additionally noticed.
Throughout the 52 weeks till December 30, 2023, River Island reported a loss earlier than taxes of 33.2 million kilos, whereas the billing fell greater than 19 % to 578.1 million kilos.
Sky Information had already reported in January 2025 that River Island had employed Alixpartners advisors, because it sought to enhance income and scale back prices. This newest information of the PWC appointment means that the retailer has separated from Alixpartners, stated the media.