River Island’s future uncertain as landlords reject restructuring plan - Retail Gazette

Creditors torpedo River Island recovery plan, chain's fate decided on Thursday - RetailDetail EU

River Island‘s survival is hanging by a thread: the British fashion chain wants to undergo a judicial reorganisation, but its landlords are opposing it. This Thursday, a judge will decide on the brand’s future. Draconian measures At the end of July, River Island announced it needed draconian measures to survive. The chain announced a reorganisation plan in which it wanted to close 33 stores, significantly reduce (or completely abolish) the rent …

River Island’s future uncertain as landlords reject restructuring plan - Retail Gazette

River Island’s bid to restructure its business and avoid collapse is now hanging in the balance after key landlords withheld support from its rescue plan, leaving the fashion retailer’s future uncertain. The embattled British brand sought to close 33 stores, reduce rents on 71 shops — with some landlords asked to accept zero rent — and write off debts including business rates, in an effort to reduce costs and secure liquidity. Although around 80…