River Island: latest as fashion retailer wins court rescue restructuring plan – are 33 stores still closing?
Can this high street favourite’s rescue plan keep shoppers coming through the doors? 🛍️
- The High Court has approved a rescue plan giving River Island a chance to avoid administration
- But 33 UK stores are still set to close, with rents cut on a further 71 sites for three years
- Retailer seeks £54m funding to cover a projected £43m shortfall
- Shift to online shopping and rising costs blamed for financial troubles
- Plan aims to safeguard thousands of jobs and keep the 76-year-old brand on the high street
Shoppers can breathe a partial sigh of relief after the High Court approved a rescue plan aimed at keeping a major fashion chain out of administration.
The ruling gives 76-year-old retailer River Island a fighting chance of survival, with a three-year strategy designed to slash costs, secure new investment, and protect thousands of jobs.
Matthew Weaver KC, representing the retailer in court, said River Island had “simply not been able to reverse” years of falling footfall and sales.
He pointed to the shift from high street shopping to online retail, as well as soaring energy, labour and supply chain costs, which have made its current cost base “unsustainable.”
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If the deal had been blocked, Weaver warned, the “most likely scenario” was an immediate stock sell-off and the sale of River Island’s brand and intellectual property – effectively wiping the chain from the high street and leaving only the brand name and online store behind.
But what does the ruling mean for River Island’s shops, and will any stores be closed?
Will River Island shops still close?
Despite the High Court ruling, dozens of River Island stores will still shut.
As part of its rescue plan, the retailer will close 33 of its 223 UK and Ireland stores (though it’s worth noting none of its Irish shops are on the closure list) and cut rents on a further 71 for three years – in some cases paying nothing at all..
The company is now seeking £54 million in fresh funding later this year to help plug a projected shortfall of over £43 million. The retailer hopes these measures will restore profitability, improve cash flow, and safeguard as many of its 5,500 jobs as possible.
Founded in 1948 as Lewis and Chelsea Girl before rebranding in the 1980s, River Island has been a familiar sight on Britain’s high streets for decades.
Whether this restructuring will be enough to keep it there long-term now depends on fresh funding and whether shoppers keep coming through its doors.
Which River Island stores are closing?
33 River Island stores are set to close. The affected shops are expected to remain open until January 2026, allowing the retailer to capitalise on peak trading before shutting their doors for good.
The following River Island stores are earmarked for closure:
- Aylesbury
- Bangor, Bloomfield
- Barnstaple
- Beckton
- Brighton
- Burton-upon-Trent
- Cumbernauld
- Didcot
- Edinburgh, Princes Street
- Falkirk
- Gloucester
- Great Yarmouth
- Grimsby
- Hanley
- Hartlepool
- Hereford
- Kilmarnock
- Kirkcaldy
- Leeds, Birstall Park
- Lisburn
- Northwich
- Norwich
- Oxford
- Perth
- Poole
- Rochdale
- St Helens
- Stockton-on-Tees
- Surrey Quays
- Sutton Coldfield
- Taunton
- Workington
- Wrexham
Online shopping and other stores are still operating as normal, and customers can continue to shop and redeem gift cards for now.
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