US Edition
River Island at risk of collapse within weeks: Report
UNITED KINGDOM, JUL 24 – River Island must secure creditor approval for a rescue plan including 33 store closures and rent cuts on 71 shops to unlock an emergency loan and avoid collapse.
- With collapse looming, River Island faces a critical deadline on August 7 to secure creditor approval for its rescue plan, The Telegraph reports.
- Amid mounting losses, the retailer reported Island bosses blamed the migration of shoppers from the High Street to online.
- Under the proposal, the chain would hand back keys to 33 stores, slash rents on 71 shops, and write off debts to stave off a `severe liquidity crisis`.
- If creditors back the plan, PwC will put the proposals before the High Court next week, unlocking an emergency loan from the Lewis family.
- Absent approval, the retailer will run out of cash by the end of August, with 33 branches closing in January 2026, River Island told creditors.
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Total News Sources66
Leaning Left5Leaning Right7Center28Last UpdatedBias Distribution70% Center
Bias Distribution
- 70% of the sources are Center
70% Center
13%
C 70%
R 18%
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