A retailer that has been a fixture on Britain’s high streets since 1988 is closing 11 stores today (Jan 31) in a new wave of closures. River Island, the long-standing fashion chain, has been wrestling with significant financial difficulties.

Last year, a restructuring plan aimed at saving River Island from going into administration was given the green light by a High Court judge. The London-based company has revealed a survival strategy that includes shutting down 33 stores and negotiating rent reductions across an additional 71 locations.

Landlords have been asked to agree to lower rental payments over a three-year span, with some sites potentially paying nothing at all, as the firm tries to stem escalating losses.

The closures, impacting sites across England, Scotland, Wales and Northern Ireland, are slated for Saturday, 31 January, dealing another blow to consumers and beleaguered town centres nationwide.

The company reported a pre-tax loss of £32.3 million last year while disclosing that turnover had dropped by 15 per cent to £578.1 million. Matthew Weaver KC, representing River Island, told the court proceedings that the business “simply has not been able to reverse” its path of financial struggle.

The decline in footfall and sales was attributed to “the pressures of a highly competitive and changing retail environment as well as the prevailing trend away from high street retail stores to online shopping”.

Earlier this year, Ben Lewis, CEO of River Island, stated: “River Island is a much-loved retailer, with a decades-long history on the British high street.”

He added: “However, the well-documented migration of shoppers from the high street to online has left the business with a large portfolio of stores that is no longer aligned to our customers’ needs.”

Mr Lewis said: “The sharp rise in the cost of doing business over the last few years has only added to the financial burden. We have a clear strategy to transform the business to ensure its long-term viability.”

He added: “Recent improvements in our fashion offer and in-store shopping experience are already showing very positive results, but it is only with a restructuring plan that we will be able to see this strategy through and secure River Island’s future as a profitable retail business.”

For the latest money-saving tips, shopping and consumer news, visit the new Everything Money website.

Lewis concluded: “We regret any job losses as a result of store closures, and we will try to keep these to a minimum.”

The restructuring is believed to have been triggered by a pre-tax loss of £32.3million and a 19 per cent drop in sales. River Island, which employs over 5,000 people across the UK, is still considering further store closures and reassigning staff where possible.

For the latest money saving tips, shopping and consumer news, go to the new Everything Money website

The brand was established as a menswear shop in Exeter in 1988, with the name River Island inspired by Leonard Lewis’s time spent on a boat on the Thames. The name and shop were so successful that the entire business was renamed from Chelsea Girl to River Island later in 1988.

Stores closing January 31, 2026

• Barnstaple
• Beckton
• Didcot
• Falkirk
• Gloucester
• Grimsby
• Hereford
• Kirkcaldy
• Oxford
• Poole
• Rochdale

Stores already shut this month:

• Aylesbury
• Burton upon Trent
• Leeds Birstall Park
• Lisburn
• Perth
• Surrey Quays
• Sutton Coldfield
• Taunton
• Wrexham
• Bangor Bloomfield
• Cumbernauld
• Hanley
• Hartlepool
• Kilmarnock
• Northwich
• St Helens