River Island at risk of collapse if landlords fail to back restructuring plan

Fashion retailer wants to shut 33 stores and reduce rent costs, and says it needs £10m of funding in September

River Island has said it could collapse unless its landlords back a restructuring plan involving the closure of 33 stores and a sharp reduction in rent payments.

River Island has said it could collapse unless its landlords back a restructuring plan involving the closure of 33 stores and a sharp reduction in rent payments.

In documents outlining fresh details of the plan, which was first announced in June, the high street fashion retailer said it needed £10m (€11.4m) in funds by the second week of September. It warned that figure could rise to £50m (€57.3m) by the end of the year.