River Island is considering a Company Voluntary Arrangement (CVA) as the Coronavirus continues to hold back trading.
The High Street fashion retailer is looking to reduce rents and close stores across its 300-strong estate.
Last month, River Island stated it would make 250 head office staff redundant, as part of cost-cutting measures.
Its last financial update in September 2019 showed operating profits falling from £80.6 million to £35.1 million.
Since then, the pandemic has taken its toll, with all stores closed during lockdown and the majority of staff furloughed.
In March, River Island said it would shut its distribution centre in Milton Keynes indefinitely, fulfilling all outstanding online orders before closing the centre which processed e-commerce business.
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Smarter merchandise planning across the retail value chain
In this webinar, Matt Hopkins, Head of Retail Solutions, Board, Catherine Tooke, SVP Product & Planning, Sweaty Betty, and Subir Gupta, Managing Principal, Thought Provoking Consulting join Retail Systems Editor Jonathan Easton to discuss the findings of the recent Retail Systems report The Merchandise Planning Challenge: How are retailers harnessing technology to optimise planning and retain customers? and examine the innovations that are improving retail planning.
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