A major fashion retailer has revealed it could close up to 60 stores across the UK.
It is being reported that fashion outlet New Look, which has branches in Commercial Road, Palmerston Road, Cosham and Havant, is planning to shut around 10 per cent of its shops.
The brand is believed to be drawing up proposals for a Company Voluntary Arrangement (CVA), a process used by struggling retailers to restructure its financial obligations to creditors.
International toy retailer Toys’R’Us successfully entered a CVA last year over massive debts, safeguarding jobs in Portsmouth.
It is so far unclear which branches could be affected if the application goes ahead and shops close.