River Island May Close Up to 104 UK Stores

River Island, a UK fashion retailer with about 5,500 employees, plans to close 33 stores by January 2026 following a £33.2 million loss in 2023 and a 19% drop in sales. The company is seeking to renegotiate rents at dozens of additional locations, putting up to 71 more stores at risk if agreements with landlords cannot be reached. PwC has been hired to oversee the restructuring, which will be voted on by creditors in August and requires High Court approval. The closures and restructuring are responses to increased online shopping and the high costs of operating physical stores. Some locations, such as the Banbury branch, have already closed ahead of the broader plan. The number of job losses remains undetermined as River Island faces ongoing challenges including competition, economic uncertainty, and supply chain issues.