New Look set to shut 60 UK stores
See the proposed list of store closures
Last updated 7th Mar 2018
High street giant New Look has today announced they are set to close 60 of their UK stores, meaning 980 people will be at risk of redundancy.
The clothing shop, which caters for women, men, children, has made the announcement after a challenging trading performance and a "difficult" retail environment.
According to new reports, the company has applied for a Company Voluntary Arrangement (CVA), something which allows in debt businesses to pay debts whilst they are still trading, to prevent full closure.
Executive chairman Alistair McGeorge said, "Given our challenged trading performance and over-rented UK store estate, we are having to take tough but necessary actions to reduce our fixed cost base and restore long-term profitability.
"We have held constructive discussions with our key landlords and strategic partners and will now seek creditor approval on our CVA proposal.
"A priority for us is to keep all potentially affected colleagues informed during this difficult time."
See the full list of stories identified for potential closure:
Aberdeen - Bon Accord
Beckton
Bolton Mens
Borehamwood
Brynmawr
Burton Mens
Cameron Toll
Cardiff - Queen Arcade
Cheshunt
Clevedon
Craigleith
Doncaster Mens
Dundee – Wellgate
Exeter Mens
Fleet
Gateshead - Team Valley
Glasgow - Buchanan Street Mens
Gorleston
Hanley Mens - Intu Potteries
Hounslow Mens
Hull – Whitefriargate
Keynsham
Kingswood
Leeds - The Core Shopping Centre
Leicester – Haymarket
London - Marble Arch
London - Moorgate/ London Wall
London - Oxford Circus
Maidenhead
Maidstone Mens
Merry Hill Mens
Metro Centre – Mens
Monmouth
Newport Mens
Newton Mearns
North Shields
Nottingham Mens
Ocean Terminal
Peterbrough Bridge Street
Pontypool
Portswood
Ramsgate
Reading - Broad Street
Reading Oracle Mens
Rhyl
Romford Mens
Rugby
Shrewsbury Mens
Sidmouth
Stockport – Merseyway
Stockton-on-Tees
Stratford Upon Avon -Bridge Street
Thornaby
Tonypandy
Torquay - Union Street
Tredegar
Troon
Wallsend
Weston Favell
Wigan Men
The high street giant has confirmed that it will attempt to redeploy the 980 people whose job are at risk to other stores.
Feeling the wrath of the recent surge in online shopping, New Look is just one of popular high streets brands in financial trouble.
Just last week, both Maplin and Toys R Us went into administration.