UK retailer River Island to close 32 High Street stores

River Island will close 32 stores in January after reporting a £32.3 million pre-tax loss and a 19% decline in sales.

River Island has confirmed it will close 32 stores this January as part of a restructuring. The company reported a £32.3 million pre-tax loss and a 19% decline in sales in the most recent period. It cited the growth of online shopping and higher operating costs as key challenges. The business operates around 200 outlets and employs more than 5,000 people; the company says roles are not under threat and it will attempt to redeploy staff where possible. Key details: - 32 stores scheduled to close in January as part of a restructuring. - Reported a £32.3 million pre-tax loss and a 19% fall in sales. - The company cited online shopping growth and higher operating costs as drivers of the decision. - River Island operates about 200 outlets and has more than 5,000 employees; the company says it will seek to redeploy staff and that roles are not under threat. Summary: The announced closures will reduce River Island's high street presence and follow a period of weaker sales. Undetermined at this time.