Beauty & Fashion
New Look to close 60 shops in bid to save fashion empire
New Look has actually reported falling sales Nearly 1,000 jobs at risk as chain struggles to deal with ₤ 1.2 bn financial obligation
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.
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