UK retailer Dune appoints KPMG advisers to review strategic options

5 February 2021 (Last Updated February 5th, 2021 15:37)

British footwear and accessories chain Dune Group is reviewing strategic options with the help of KPMG advisers regarding its property portfolio.

UK retailer Dune appoints KPMG advisers to review strategic options
Dune Group weighs strategic options to cut costs. Credit: John Keogh.

British footwear and accessories chain Dune Group is reviewing strategic options with the help of KPMG advisers regarding its property portfolio.

Sky News reported that the retailer will be engaging in discussions with landlords again to find ways to decrease costs and sustain and stabilise the business.

The news service quoted Dune founder and chief executive Daniel Rubin as saying: “The trading environment continues to be extremely tough, and like many other high street retailers, we are reviewing all aspects of our business to ensure we’re in the best position possible to navigate our way through this difficult period.

“We’ve had constructive dialogue with our landlords since the start of the pandemic, but we now need to engage with them further if we are to safeguard our future.

“To this end, we have appointed KPMG to review options specifically in relation to our property portfolio, and to assist us with our negotiations with stakeholders as we seek to manage our business through the months ahead.”

Founded in 1992, the retailer currently operates 43 standalone stores with around 1,200 staff, as well as trades via nearly 175 concessions.

The chain is one of the several high street retailers in the UK affected due to the impact of Covid-19.

In November, UK footwear chains Clarks secured £100m investment from Hong Kong-based private equity firm LionRock Capital and agreed to enter company voluntary arrangement (CVA).