River Island news and archive

River Island losses deepen as restructuring efforts take hold

River Island Clothing Co. Limited reported a sharply increased pre-tax loss of 64 million pounds for the 52 weeks ended December 28, 2024, nearly doubling the 33.2 million pounds loss from the previous year, as the retailer grappled with a challenging market and prepared for a major restructuring. The primary driver of this deepened loss was a...

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Retail

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...

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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...

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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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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...

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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...

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...

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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...

People

Former River Island CEO returns as executive chair exits

Ben Lewis, the former chief executive officer to River Island, is returning to the British retailer upon the announcement that its executive chair, Richard Bradbury, is exiting the firm. Bradbury, who cited personal reasons for his departure, had previously served as CEO for River Island until 2010 before stepping away and then later rejoining...

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River Island reportedly appoints financial advisors

British fashion chain River Island has reportedly hired financial advisers from global consultancy AlixPartners as the retailer looks to improve profits and cut costs, Sky News reports. River Island has been struggling with declining financial results and rising costs over an extended period. In October 2024, the company posted a pre-tax loss of...

Fashion |In Pictures

River Island unveils festive collection with Nephthys Foster

British fashion retailer River Island has launched a playful Christmas knitwear collection with London-based artist Nephthys Foster. The capsule River Island x Nephthys collection is inspired by Foster’s signature style of vibrant, bold and colourful artworks and features festive swearers in playful designs to “spark joy”. Capturing the...