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River Island gets green light for rescue that saves 4,000 jobs

Restructure by family-owned fashion chain involves 33 store closures but leaves more than 1,000 jobs at riskRiver Island has got the green light for a rescue restructure that saves more than 4,000 jobs but will shut 33 of the clothing chain’s 230 stores as people shift to buying online.The plan to reduce costs, which still puts more than 1,000 jobs and a further 70 sites at risk, won approval of a high court judge on Friday after a majority of creditors gave their backing earlier in the week. Continue reading...

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