River Island eyes store closures following £33m losses
Fashion retailer River Island is undergoing a restructuring process that could lead to the closure of 33 UK stores and put hundreds of jobs at risk.
An additional 71 stores face uncertainty as the company seeks improved rental deals with landlords to combat a recent slump in trading.
The family-owned chain, which employs around 5,500 people, has hired advisors from PwC to oversee the restructuring.
The proposals, aimed at securing fresh funding and turning around the business, will be put to a vote by the firm's creditors in August.
River Island reported a 33.2 million pound loss in 2023, with sales down 19 per cent, attributed to weaker consumer spending and competition from online rivals.
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The 10 best cafés and coffee shops in Manchester
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Fig & Sparrow A couple of minutes' walk away from the alternative shopping emporium Affleck's Palace, at the heart of the Northern Quarter, this small independent coffee shop has been a staple in the area since 2013. Along with excellent coffee by local roastery Heart & Graft, you can order good value brunch dishes, sandwiches, soups and cakes by Stockport's Silver Apples bakery. It's a laid-back space with wooden floorboards, sage green chairs, pillars and exposed beams. Nab one of the three seats in the window to watch life on Oldham Street while you sip. Fort In the Great Northern Warehouse, next to its rainbow staircase up to Deansgate Mews, this slick coffee shop has its own roastery and takes making the perfect flat white or pourover seriously. Its minimalist interiors with pale grey walls, black tables and a wooden counter are flooded with light from huge windows onto Deansgate and upbeat music plays while you sip. There are accompanying pastries available to buy from Sticky Fingers bakery in Stockport – but look out for food and location changes due to an imminent move. Siop Shop This small café, in a former weavers' cottage on Tib Street, has all of the ingredients to make you smile: some of the best doughnuts in Manchester in creative flavours and designs, cheerful décor with tangerine orange, tomato red and sunflower yellow seating; and excellent coffee that is roasted in-house. Order one of its classic doughnut favourites, such as lemon meringue, or go for a sandwich baked in house. Looking for more reasons to love it? Siop Shop runs a gardening club every other Wednesday evening, too. Area: Northern Quarter Nearest Metrolink: Shudehill Website: Price: £ ManCoCo You can smell the coffee roasting in ManCoCo in the morning, as you pass by this roastery and coffee house tucked away under some railway arches near Deansgate station. 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Haunt On the corner of central Peter Street and Mount Street, with large windows to gaze out of, Haunt is a popular spot to work during the day while it slips into a place to sip an aperitivo in the evening. There are speciality coffees by Leeds-based North Star Coffee Roasters, its own homemade chai lattes, bagels and sandwiches, and a brunch menu that includes a tiramisu French toast. The classy space is inspired by all-day Mediterranean cafés and bars with a chequerboard floor, marble tables and metro tiled bar. Area: Petersfield Nearest Metrolink: St Peter's Square Contact: Price: £ How we choose Every restaurant in this curated list has been tried and tested by our destination expert, who has visited to provide you with their insider perspective. We cover a range of budgets, from neighbourhood favourites to Michelin-starred restaurants – to best suit every type of traveller's taste – and consider the food, service, best tables, atmosphere and price in our recommendations. 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South Wales Guardian
an hour ago
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River Island to close 33 sites with hundreds of jobs at risk
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