💨 Abstract

River Island has avoided administration after a High Court judge approved its restructuring plan, involving the closure of 33 branches by January 2026. The retailer reported a £33.2 million loss for 2023 due to a 19% drop in sales. CEO Ben Lewis stated that the restructuring will help align the store estate with customer needs, building on recent improvements in fashion offerings and shopping experiences. Despite financial struggles, Lewis expressed confidence in the brand's future.

Courtesy: Katie Boyden