// White Stuff hires PHD Property advisors to undertake review of its property estate
// A CVA option has not been ruled out
// The review comes after difficult trading conditions caused by the Covid-19 pandemic
White Stuff has reportedly drafted in advisors to conduct a review of its 115-store property estate.
The retailer hired advisors from PHD Property to undertake the review as it explores a wide range of different options, Property Week reported.
“In light of the current trading environment, we have taken the decision to appoint PHD Property to fully review our property estate and to assist in the realignment of our rental commitments,” White Stuff chief executive Jo Jenkins said.
In July last year, White Stuff announced almost 400 redundancies across the business as part of its transformation programme.
The job cuts affected 100 head office staff and 290 store workers. At the time, the company said it was not looking to close stores.
The review comes after difficult trading conditions caused by the Covid-19 pandemic.
White Stuff was founded in 1988 and has since grown its real estate portfolio to more than 130 shops and concessions in the UK and internationally.
Last year, the former chief executive of online at Missguided, Gareth Jones joined White Stuff as a non-executive director.
White Stuff chair Debbie Hewitt said at the time that Jones’ “strong digital and online experience” would benefit the retailer.