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New Look set to close stores

By FashionUnited

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Following a review of its store portfolio, high street fashion retailer, New Look could close up to

100 of its stores, according to reports in the FT.

New Look has 600 outlets in the UK with 100 leases set to expire in the next three years. The FT claims that 60 stores have been earmarked to close as the retailer shifts focus to online trading but all 100 shops could be lost if the retailer does not secure favourable deals with its landlords.

Insiders claim the store closures are more about a re-organisation rather than a scaling back. A spokesman for New Look said: “The 60 stores which we have looked at are small ones in locations where we think a larger New Look store could operate.”

When pressed on whether stores which do not get their leases renewed will be replaced by a similar number of larger stores the spokesman said it was “far too early to say”.
lease expires
New Look
Store closures