New Look considers listing

The board of New Look is poised to meet this week to consider whether to press ahead with a £1.8bn ($2.9bn) listing of the fashion retailer.

The board is expected to consider all its options, including an initial public offering, or a sale, given recent private equity interest in the group. Tesco veteran John Gildersleeve took up his post as chairman of New Look last week, while the retailer recently revealed strong Christmas trading figures, making next week’s board meeting an ideal time to take stock.

Last year, New Look appointed JPMorgan Cazenove, Deutsche Bank and Credit Suisse to advise it on a float. Sentiment has since turned against the retail sector, amid concerns over the outlook for consumer spending this year in the face of tax rises and cuts to public sector employment. New Look also has about £1bn of net debt.