Overview

• River Island will shut its Banbury branch on June 28, following earlier closures in Corby and Chesterfield.
• PricewaterhouseCoopers has replaced AlixPartners and is due to outline a formal restructuring plan within weeks.
• The scheme could affect up to 230 of the chain’s stores and threaten about 5,500 jobs.
• Latest accounts show the firm posted a £33.2 million pre-tax loss in 2023 and saw turnover fall by nearly 19% over the last year.
• Industry bodies warn that rising employer national insurance costs and shifts to online shopping may force thousands more UK store closures and job cuts this year.