Beauty & Fashion

New Look to close 60 shops in bid to save fashion empire

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New Look

New Look has actually reported falling sales Nearly 1,000 jobs at risk as chain struggles to deal with ₤ 1.2 bn financial obligation

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Fashion retail chain New Look has actually looked for approval from its creditors to close more than 60 stores, putting as lots of as 980 tasks at threat.

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Revealing the move today, the company stated it had “determined 60 from its overall 593 shops in Britain for possible closure”, along with a more “six sites which are sub-let to 3rd parties”, according to possible closure include branches in Nottingham, Doncaster, Glasgow, Leeds, Leicester and 3 different stores in London, including the brand name’s flagship shop at Oxford Circus.New Look is the most recent high-street brand name to seek monetary restructuring assistance following comparable problems at toy brand Toys R United States and electronic devices company Maplin-both which collapsed into administration just a weekago.The toy chain fell in spite of being granted a similar CVA in December, Sky News

reports. UK News Retail Business

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