Iconic excessive avenue vogue chain shuts 11 shops at the moment in new retail blow

The style retailer has been a fixture on Britain’s excessive streets since 1988 has closed 27 shops already in 2026

River Island stores around the country have been closing down in a blow to the High Street

River Island shops across the nation have been closing down in a blow to the Excessive Avenue (Picture: tbradford by way of Getty Photographs)

A retailer that has been a fixture on Britain’s excessive streets since 1988 is closing 11 shops at the moment (Jan 31) in a brand new wave of closures. River Island, the long-standing vogue chain, has been wrestling with vital monetary difficulties.

Final yr, a restructuring plan aimed toward saving River Island from going into administration was given the inexperienced mild by a Excessive Court docket decide. The London-based firm has revealed a survival technique that features shutting down 33 shops and negotiating lease reductions throughout a further 71 places.

Landlords have been requested to comply with decrease rental funds over a three-year span, with some websites doubtlessly paying nothing in any respect, because the agency tries to stem escalating losses.

The closures, impacting websites throughout England, Scotland, Wales and Northern Eire, are slated for Saturday, 31 January, dealing one other blow to shoppers and beleaguered city centres nationwide.

The corporate reported a pre-tax lack of £32.3 million final yr whereas disclosing that turnover had dropped by 15 per cent to £578.1 million. Matthew Weaver KC, representing River Island, instructed the court docket proceedings that the enterprise “merely has not been in a position to reverse” its path of monetary wrestle.

The decline in footfall and gross sales was attributed to “the pressures of a extremely aggressive and altering retail atmosphere in addition to the prevailing pattern away from excessive avenue retail shops to on-line purchasing”.

Earlier this yr, Ben Lewis, CEO of River Island, acknowledged: “River Island is a much-loved retailer, with a decades-long historical past on the British excessive avenue.”

He added: “Nevertheless, the well-documented migration of buyers from the excessive avenue to on-line has left the enterprise with a big portfolio of shops that’s not aligned to our prospects’ wants.”

Mr Lewis stated: “The sharp rise in the price of doing enterprise over the previous few years has solely added to the monetary burden. We now have a transparent technique to remodel the enterprise to make sure its long-term viability.”

He added: “Current enhancements in our vogue supply and in-store purchasing expertise are already displaying very optimistic outcomes, however it is just with a restructuring plan that we will see this technique by and safe River Island’s future as a worthwhile retail enterprise.”

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Lewis concluded: “We remorse any job losses because of retailer closures, and we’ll attempt to preserve these to a minimal.”

The restructuring is believed to have been triggered by a pre-tax lack of £32.3million and a 19 per cent drop in gross sales. River Island, which employs over 5,000 folks throughout the UK, continues to be contemplating additional retailer closures and reassigning workers the place potential.