The 60 store closures that New Look is planning to keep it from going under may not be enough to achieve that aim, analysts said this week, adding that the closures underline the weakness of its menswear strategy.
New Look has officially announced its long-rumoured company voluntary arrangement (CVA) proposal with which it’s targeting a reduction in its store count and rent costs, and almost 1,000 jobs are at risk
The rumours around New Look have been swirling for some time. But now it looks like the troubled fashion retailer is seeking a company voluntary arrangement to tackle its £1.2bn debt, which means closures are likely.
Valentine’s Day may be a huge retail sales booster but it wasn’t enough in the UK last month. The latest tracker showed footfall was down 6.8% year-on-year at physical stores and London/South East suffered the most