The family behind River Island is drawing up the plan which could put a significant number of stores and jobs at risk, Sky News reports.
It has been reported the chain’s owners have drafted in advisers from PricewaterhouseCoopers (PwC) to devise a formal restructuring plan.
It comes after River Island made a pre-tax financial loss of £33.2million in 2023 according to Sky News.
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The proposals are expected to be finalised within a few weeks.
River Island employs around 5500 people and owns 230 shops across the UK.
In Glasgow, the chain has stores in Silverburn, The Forge, Glasgow Fort, Buchanan Galleries and on Argyle Street as well as one in Braehead Shopping Centre in Renfrew.
Sky News reports River Island made a pre-tax financial loss of £33.2million in 2023.
