N Brown Group has announced plans to eliminate approximately 100 positions at its Manchester headquarters.
- The decision coincides with N Brown Group’s upcoming transition to a private company.
- A comprehensive consultation process, involving around 200 staff members, is currently underway.
- The group cites insufficient benefits from its AIM listing as a factor influencing the strategic shift.
- N Brown is prioritising compliance with legal obligations and support for affected employees.
N Brown Group has revealed its intention to reduce its workforce by cutting approximately 100 roles at its Manchester headquarters. This development emerges as the company prepares for privatisation under the Alliance family, led by non-executive director and founding family member, Joshua Alliance. The redundancies are expected to affect various departments including buying, merchandising, trading, logistics, finance, data and creative functions.
The decision to implement these job cuts is aligned with N Brown’s strategic transformation goals, aimed at enhancing the company’s long-term potential and financial performance. A spokesperson highlighted that despite the challenging nature of this decision, it is essential for the organisation’s sustainable growth. The spokesperson stated, “As we continue our journey to return to sustainable growth and unlock the long-term potential of our business, our priority remains delivering our strategic transformation whilst providing an exceptional customer experience.”
N Brown’s leadership has already commenced a consultation phase involving around 200 employees at its head office in Manchester. This process is anticipated to result in 105 job eliminations, including 98 at the head office and seven within the supply chain hub. Affected employees are expected to depart by the end of October, illustrating the urgency of the organisational restructuring.
The company’s decision to transition away from the AIM market is due to its existing shareholder structure, low trading liquidity, and the limited appetite from UK fund managers for small cap consumer stocks. In a statement on the London Stock Exchange, N Brown clarified that the redundancy process was planned independently of the acquisition discussions, emphasising full compliance with legal and regulatory obligations.
Through these changes, N Brown aims to streamline operations and focus on enhancing customer experience, a priority outlined by its spokesperson. The company’s commitment to supporting affected employees during this transition is evident, as it continues to align its business model with evolving market demands.
N Brown’s strategic workforce reduction reflects its broader efforts towards privatisation and long-term sustainable growth.
