River Island will close dozens of stores within weeks, as part of a restructuring plan aimed at preventing the company from collapsing into administration.

The UK high street giant, which currently has over 200 shops nationwide, will close 33 stores before the end of January and pay reduced rent on another 71 shops.

Landlords are being requested to cut rents for three years and potentially halt payments completely on some sites in a bid to stem losses.

River Island made a £33.2m pre-tax loss in 2023 after sales fell 19 per cent, with losses close to doubling to £64m in 2024, according to its accounts.

In August, Matthew Weaver KC, for River Island, told a hearing that the company “simply has not been able to reverse” a trend of financial challenges.

He cited a drop in footfall and

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