New Look Set to Shut Up to 60 UK Stores
High street giant New Look is reportedly planning to close up to 60 stores across the UK, putting around 10% of its shops at risk. Locations under threat include branches on Commercial Road, Palmerston Road, Cosham, and Havant.
Company Voluntary Arrangement on the Cards
The fashion chain is said to be preparing a Company Voluntary Arrangement (CVA). This legal move allows struggling retailers to restructure debts and protect their business. Last year, Toys’R’Us entered a CVA, saving dozens of portsmouth/" title="Portsmouth" data-wpil-keyword-link="linked">Portsmouth jobs despite deep financial woes.
Which Stores Will Shut? The Mystery Remains
Details of which New Look stores could close have yet to be revealed. Shoppers and staff in affected areas are anxiously awaiting news as the retail giant mulls its next move.
