River Island’s owners are reportedly drawing up a radical rescue plan that could put several stores and jobs at risk in what would be another major blow to the UK high street.
The popular retailer – one of Britain’s best-known clothing chains – operates around 230 stores across the country, employing some 5,500 people. But Sky News is reporting its owners have drafted in advisers from PricewaterhouseCoopers (PwC) to devise a formal restructuring plan. The proposals are subject to sign-off and could be finalised in the coming weeks, with sources insisting any definite decision’s over River Island’s future have yet to be taken.
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