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New Look working with Deloitte on store closure plan

“Struggling fashion retailer New Look is working with advisers at Deloitte on its plans to shut around 60 UK shops, the Telegraph can reveal” writes Jon Yeomans for telegraph.co.uk. However, retailers are under huge pressure to reduce their property costs, as shoppers increasingly buy online rather than visiting stores.The value of New Look’s bonds has tumbled by 56pc in the past year, amid rising concerns about the health of the retailer.Company voluntary arrangements have come under intense scrutiny amid concern that they just delay a company’s demise, rather than rescue the business.
 
Source: telegraph.co.uk



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