Major high street fashion retailer River Island to close 33 shops - hundreds of jobs at risk

River Island has been a familiar sight on UK high streets since the first store appeared in Exeter in the 1980s, but it will soon be found in far fewer locations following an announcement that dozens of shops are set to close.

Reports suggest the fashion retailer has plans to shut 33 of its UK stores putting hundreds of jobs at risk. The retailer is said to have drawn up a radical restructuring plan in a bid to reverse a recent slump in trading.

Sky News reported that the family-owned retailer is proposing to close a number of its 230 stores as a result. A further 71 stores are also at risk depending on talks with landlords in order to secure improved rental deals, according to the report.

The retailer, which employs around 5,500 people, was founded in 1948 under the Lewis and Chelsea Girl brand before being renamed in the 1980s. It has reportedly hired advisors from PwC in order to oversee the restructuring process.

The proposals are set to go to a vote by the firm’s creditors – companies or individuals owed money by the retailer – in August. The deal is expected to result in fresh funding being invested into the business in order to help fuel its turnaround.

It is among several massive high street fashion chains to have been impacted by weaker consumer spending and competition from cheaper online rivals, such as Shein. River Island fell to a £33.2 million loss in 2023 after sales slid by 19%, according to its most recent set of accounts.

River Island has been contacted for comment.