Kitchen retailer Magnet announced a restructuring plan through a Company Voluntary Arrangement to close 15 underperforming showrooms across the UK. The affected store locations shutting down include Andover, Birmingham Minworth, Blackburn, Bridgwater, Brighton, Colwyn Bay, Dorking, Farnborough, Ramsgate, Romford Trade, Stirling, Stockton, Watford, Weymouth, and York Trade. The majority of its remaining nationwide stores continue to operate normally as the company works to reduce unsustainable property lease costs.