River Island, the privately owned trend retailer, is making ready to exert a tighter grip on its value base because the excessive road faces the prospect of swingeing tax hikes in April.
Exact particulars of the scope of the work had been unclear on Tuesday, though it’s not believed to embody formal restructuring work that may result in retailer closures.
River Island, which was beforehand named Lewis and Chelsea Woman, nonetheless trades from greater than 250 shops, based on its web site.
Retailers of all sizes have complained in regards to the potential influence of forthcoming will increase to employers’ nationwide insurance coverage charges, with the business as a complete dealing with a multibillion pound hit.
Accounts for River Island Clothes Co for the 52 weeks ended 30 December 2023 present the corporate made a £33.2m pre-tax loss.
Turnover through the 12 months fell by greater than 19% to £578.1m.
The corporate’s administrators mentioned that whereas the buying and selling surroundings through the subsequent 12 months had been “challenging”, they remained “positive” in regards to the outlook.
AlixPartners, which has additionally been employed to advise the low cost retailer Poundland’s mother or father, Pepco Group, declined to remark.
