A high street retailer is closing almost three dozen stores over the next seven weeks. River Island is moving ahead with plans to close 33 stores as part of a restructuring bid following heavy losses.
The clothing retailer’s restructuring plan was approved by the High Court in August. Besides the closures, rent reductions, and debt will be written off for 71 stores. River Island currently has over 200 shops nationwide, with 122 of these remaining unaffected, and employs around 5,500 staff. Ben Lewis, CEO of River Island, said: “We have a clear transformation strategy to ensure the long-term viability of the business, and this decision gives us a strong platform to deliver this.” He added: “Recent improvements in our fashion offer and shopping experience are starting to show results, and the restructuring plan will enable us to align our store estate to our customers’ needs. We are grateful to our suppliers, landlords and other stakeholders for their constructive engagement and shared confidence in River Island’s future.”
In June, Mr Lewis said that although River Island is “a much-loved” British retailer, a rise in online shopping had left the business with “a large portfolio of stores that is no longer aligned to our customers’ needs”.
He added that a “sharp rise in the cost of doing business over the last few years has only added to the financial burden”. The business reported a £33.2m pre-tax loss in 2023, following a 19% decline in sales, with losses nearly doubling to £64m in 2024, according to its accounts.
It has requested landlords to cut its rent for three years and potentially stop payments on some units to try and curb its losses. The plan was approved by a High Court judge in August of this year.
Full list of stores to close:
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Aylesbury, Buckinghamshire
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Bangor Bloomfield, Northern Ireland
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Barnstaple, Devon
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Beckton, Greater London
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Brighton, East Sussex
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Burton-Upon-Trent, Derbyshire
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Cumbernauld, Scotland
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Didcot, Oxfordshire
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Edinburgh Princes Street, Scotland
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Falkirk, Scotland
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Gloucester, Gloucestershire
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Great Yarmouth
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Grimsby, Lincolnshire
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Hanley, Staffordshire
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Hartlepool, County Durham
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Hereford, Herefordshire
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Kilmarnock, Scotland
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Kirkcaldy, Scotland
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Leeds Birstall Park, West Yorkshire
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Lisburn, Northern Ireland
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Northwich, Cheshire
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Norwich, Norfolk
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Oxford, Oxfordshire
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Perth, Scotland
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Poole, Dorset
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Rochdale, Greater Manchester
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St Helens, Merseyside
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Stockton On Tees, County Durham
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Surrey Quays, Greater London
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Sutton Coldfield, Warwickshire
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Taunton, Somerset
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Workington, Cumbria
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Wrexham, Wales
