River Island set to axe five Scots stores – check if yours is closing

Scottish Sun

4 hours ago

A further 70 UK Stores are at risk amid a huge shake-up
SHUTTERS DOWN River Island set to axe five Scots stores – check if yours is closing
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RIVER Island has confirmed five Scottish stores that will shut following a major restructure.
The fashion retailer has revealed 33 branches across the UK will close including Aberdeen Union Square, Glasgow Argyle Street and Edinburgh Princes Street.
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River Island has confirmed the 33 branches that will shut
Credit: Getty
Other Scottish branches will shut in Glasgow Silverburn and Kilmarnock
This is the full list of 33 stores that will shut:
Aberdeen Union Square
Basildon
Bedford
Beverley
Birmingham Fort
Blackburn
Bolton
Broughton Park
Cannock
Castleford
Chesterfield
Crewe
Derby
Doncaster
Edinburgh Princes Street
Fareham
Gateshead Metrocentre
Glasgow Argyle Street
Glasgow Silverburn
Grimsby
Halifax
Harrow
Huddersfield
Ipswich
Kidderminster
Kilmarnock
Leamington Spa
Loughborough
Luton
Middlesbrough
Peterborough
Southport
Walsall
The 33 shops earmarked for closure will stay open until January 2026 to make the most of peak trading, Drapers reported.
The closures come as River Island carries out a major restructuring of its store estate.
The future of a further 70 stores is at risk and dependant on agreements being reached with landlords to slash rent payments.
The retailer is reportedly set to split its store estate into seven categories of closures and rent reductions.
Only nine stores are planned to keep paying full rent, while 38 could see rent reductions of up to 75% for three years.
Meanwhile, 24 stores could move to a zero-rent model.
River Island currently employs around 5,500 workers across the UK, but has not said how many jobs are at risk due to the closures.
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The retailer drafted in advisers from PricewaterhouseCoopers (PwC) just weeks ago to come up with money-saving solutions.
The move came off the back of poor financial results.
Accounts for River Island Clothing Co for the year ending December 30, 2023, showed the firm made a £33.2million pre-tax loss.
Then the turnover during the following 12 months fell by more than 19% to £578.1million.
In a statement issued last week, Ben Lewis, chief executive officer, said: "River Island is a much-loved retailer, with a decades-long history on the British high street.
"However, the well-documented migration of shoppers from the high street to online has left the business with a large portfolio of stores that is no longer aligned to our customers' needs.
"The sharp rise in the cost of doing business over the last few years has only added to the financial burden."
Earlier this week we told how major high street retailer The Original Factory Shop announced it is closing three Scottish stores this week, with a fourth set to shut next month.
The retail chain sells a range of discounted products, like cleaning supplies, travel items and even some beauty products.
Customers can also pick up pet products, jewellery, drinks, perfume and footwear.
However, bosses have revealed that they are pulling down the shutters on nine shops across the UK this week.
This includes Scottish branches in Perth, as well as Arbroath, Angus, and Peterhead, Aberdeenshire.
All three stores will close for good on Saturday, June 28.
A fourth store in Cupar, Fife, will also close for good next month on Sunday, July 27.