Fri, 08 Aug 2025

Fri, 08 Aug 2025 River Island allowed to shut shops to stave off collapse

The struggling High Street retailer had warned it would run out of cash by the end of August.
River Island has been given permission by the High Court to close 33 stores across the UK and reduce rents at another 71 branches as part of its restructuring plan. The company cited rising operating costs, increased online shopping and multi-million pound losses as reasons for the move. River Island's CEO Ben Lewis stated that the plan will help the company adapt to changing customer habits and align its store estate with their needs. As a result of the restructuring, around 110 jobs at the company's head office will be cut, saving an estimated £8.1m. The retailer currently operates 223 stores in the UK and Ireland, but none of the Irish locations are affected by the closures. River Island had already closed seven loss-making stores this year and warned creditors that it could run out of cash by August if the restructuring plan was not approved.
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