River Island has announced plans to close 33 stores, including four in the East Midlands, as part of a major restructuring effort aimed at returning to profitability. The closures are part of a broader strategy to streamline its operations, reduce costs, and realign its store portfolio with changing consumer behaviours and financial pressures.
The retailer’s restructuring proposal, which is set to be voted on by creditors in August, includes rent reductions for 71 locations and a shift to a zero-rent model for 24 stores. Four stores in the East Midlands, (Chesterfield, Derby, Grimsby, and Loughborough) will be permanently shut. The closures are expected to occur after peak trading periods, with the affected stores remaining operational until January 2026 to realign stock.
River Island’s decision comes as the business grapples with the growing dominance of online shopping and rising operational costs. The retailer states that its current store network no longer aligns with customer needs, and maintaining these locations has been diverting resources away from more profitable ventures. The restructuring is seen as crucial for securing the long-term future of the brand.
The closure programme is expected to have no impact on staff at unaffected locations, trade creditors, or customers. However, the proposal is pending approval from creditors before it can proceed.
