River Island to close 33 stores across the UK

It comes as part of the company's restructuring process

River Island has been a stalwart of the British high street since its conception, however the brand is looking to restructure amid a change in consumer habits.

The company has warned its creditors that it could run out of cash by the end of August if their proposals were not approved.

They claim that the shift towards online shopping and an increase in operating costs have resulted in multi-million pound losses.

River Island's proposals to shut 33 stores across the country and to reduce rents at 71 sites have been approved by the High Court.

CEO Ben Lewis said: "We are pleased that River Island’s restructuring plan has been approved by the High Court.

"We have a clear transformation strategy to ensure the long-term viability of the business, and this decision gives us a strong platform to deliver this.

"Recent improvements in our fashion offer and shopping experience are starting to show results, and the restructuring plan will enable us to align our store estate to our customers’ needs.

"We are grateful to our suppliers, landlords and other stakeholders for their constructive engagement and shared confidence in River Island’s future."

There are also expected to be job losses at River Island's headquarters, with around 110 of the 950 staff set to be made redundant in savings estimated to be worth £8.1m.

River Island has a total of 223 shops across the UK and Ireland. None of the Irish stores are due to be affected by the closures.

It has a total of 5,500 employees, and has been a part of the British high street since it was created under the  Lewis and Chelsea Girl brands in 1948. It was renamed River Island in 1980.

Which River Island stores are set to shut?

The full list of River Island stores that are set to shut are as follows:

• Aylesbury
• Bangor Bloomfield
• Barnstaple
• Beckton
• Brighton
• Burton-Upon-Trent
• Cumbernauld
• Didcot
• Edinburgh Princes Street
• Falkirk
• Gloucester
• Great Yarmouth
• Grimsby
• Hanley
• Hartlepool
• Hereford
• Kilmarnock
• Kirkcaldy
• Leeds Birstall Park
• Lisburn
• Northwich
• Norwich
• Oxford
• Perth
• Poole
• Rochdale
• St Helens
• Stockton On Tees
• Surrey Quays
• Sutton Coldfield
• Taunton
• Workington
• Wrexham