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River Island owners draw up rescue plan for high street chain
- River Island, a UK fashion retailer with 230 stores and 5,500 employees, reported a £33.2 million pre-tax loss for the year ending December 2023.
- The loss followed a 19 percent turnover decline to £578.1 million amid a highly competitive retail environment and increased economic uncertainty.
- To address these challenges, the owners hired PricewaterhouseCoopers to develop a formal restructuring plan that could involve closing significant numbers of stores and cutting jobs.
- Sky News reports the plan is court-supervised and intended to help River Island compromise with creditors and avoid insolvency while preserving High Street operations.
- The restructuring suggests uncertain futures for many stores and employees but aims to salvage the business amid ongoing supply chain disruptions and inflation pressures.
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Bristol PostReposted by 
Wales Online
Wales OnlineHuge fashion chain with 230 stores River Island at risk as it calls in help
The company has called in advisers to draw up a plan to save the business
·Bristol, United Kingdom
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Total News Sources14
Leaning Left3Leaning Right2Center6Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 27%
C 55%
R 18%
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