Overview

• A High Court judge approved the restructuring under cross-class cram-down powers after three-quarters of creditors backed the plan despite landlord objections
• The scheme mandates closing 33 stores by January 2026 and securing reduced rents on 71 further outlets for up to three years
• Court approval triggers a conditional £40 million loan from the Lewis family’s Blue Coast Capital alongside debt write-offs to bridge an anticipated shortfall
• River Island must secure additional funding before early September when it forecasts running out of cash to avert administration
• The retailer’s 223-store network will be realigned to online-driven demand but cost cuts and closures put hundreds of jobs at risk