Hundreds of jobs at risk as River Island to close 33 stores
River Island eyes store closures following £33m losses
- Fashion retailer River Island is undergoing a restructuring process that could lead to the closure of 33 UK stores and put hundreds of jobs at risk.
- An additional 71 stores face uncertainty as the company seeks improved rental deals with landlords to combat a recent slump in trading.
- The family-owned chain, which employs around 5,500 people, has hired advisors from PwC to oversee the restructuring.
- The proposals, aimed at securing fresh funding and turning around the business, will be put to a vote by the firm’s creditors in August.
- River Island reported a 33.2 million pound loss in 2023, with sales down 19 per cent, attributed to weaker consumer spending and competition from online rivals.