UK fashion retailer New Look set to close 60 stores

Mar 07, 2018

Struggling fashion retailer New Look could close 60 stores and cut up to 980 jobs as part of a rescue plan.The firm said its package of measures included seeking agreement from creditors for a so-called Company Voluntary Arrangement (CVA) that would allow it to slash costs including high rent bills.It is the latest big UK high-street name to seek help following the demise of Toys R Us and Maplin, which collapsed into administration just a week ago.