River Island has officially announced the closure dates for 27 of its stores this month. The fashion retailer, which had previously declared its intention to close 33 stores following a restructure approval by the High Court, shut down branches in Brighton, Edinburgh Princes Street, Great Yarmouth, and Stockton-on-Tees towards the end of 2025.
In addition to these closures, River Island has now confirmed that 27 more stores will be closing by the end of January. While the retailer will also be closing stores in Norwich, Norfolk, and Workington, Cumbria, the closure dates for these locations have not yet been finalized.
As part of its restructuring efforts, River Island is also reducing rents at an additional 71 shops. The company, which had 223 stores in the UK and Ireland when the rescue plan was presented in court in August, is facing financial challenges, having reported a pre-tax loss of £32.3 million last year with a 15% decrease in turnover.
The decline in foot traffic and sales attributed to the competitive retail landscape and the shift towards online shopping have been highlighted as key factors impacting the company’s financial performance. River Island’s CEO, Ben Lewis, acknowledged the challenges faced by the business, emphasizing the need to adapt to the changing retail environment and align store operations with customer preferences to secure long-term viability.
Despite the store closures resulting in potential job losses, River Island aims to minimize the impact on its workforce while focusing on implementing a restructuring plan to ensure the company’s profitability and sustainability in the retail market.
