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Norfolk Business Awards 2018

Suffolk and north Essex New Look stores not listed for closure as part of rescue deal

PUBLISHED: 15:08 07 March 2018 | UPDATED: 15:08 07 March 2018

New Look is set to shut 60 UK stores. Picture: NICK ANSELL/PA WIRE

New Look is set to shut 60 UK stores. Picture: NICK ANSELL/PA WIRE

Up to 980 jobs are at risk at New Look as the struggling retailer announces plans to shut 60 stores.

The brand has several shops across Suffolk and north Essex, none of which are listed for closure.

New Look said it was looking to close nearly 10% of its 593-strong UK store estate, with a further six sites that are sub-let also due to shut as it pushes ahead with a company voluntary arrangement (CVA).

Up to 980 members of staff out of its workforce of 15,300 are under threat of redundancy, although the firm said it would look to redeploy where possible.

The retailer’s rescue plan will also see landlords asked to slash the rent and revise leases on 393 stores across the UK.

Alistair McGeorge, executive chairman of New Look, said: “Given our challenged trading performance and over-rented UK store estate, we are having to take tough but necessary actions to reduce our fixed cost base and restore long-term profitability.”

New Look confirmed that all stores will remain open as normal until creditors vote on the CVA proposal on March 21.

The branches understood to be earmarked for closure are:

- Aberdeen - Bon Accord

- Beckton

- Bolton Mens

- Borehamwood

- Brynmawr

- Burton Mens

- Cameron Toll

- Cardiff - Queen Arcade

- Cheshunt

- Clevedon

- Craigleith

- Doncaster Mens

- Dundee - Wellgate

- Exeter Mens

- Fleet

- Gateshead - Team Valley

- Glasgow - Buchanan Street Mens

- Gorleston

- Hanley Mens - Intu Potteries

- Hounslow Mens

- Hull - Whitefriargate

- Keynsham

- Kingswood

- Leeds - The Core Shopping Centre

- Leicester - Haymarket

- London - Marble Arch

- London - Moorgate/ London Wall

- London - Oxford Circus

- Maidenhead

- Maidstone Mens

- Merry Hill Mens

- Metro Centre - Mens

- Monmouth

- Newport Mens

- Newton Mearns

- North Shields

- Nottingham Mens

- Ocean Terminal

- Peterbrough Bridge Street

- Pontypool

- Portswood

- Ramsgate

- Reading - Broad Street

- Reading Oracle Mens

- Rhyl

- Romford Mens

- Rugby

- Shrewsbury Mens

- Sidmouth

- Stockport - Merseyway

- Stockton-on-Tees

- Stratford Upon Avon -Bridge Street

- Thornaby

- Tonypandy

- Torquay - Union Street

- Tredegar

- Troon

- Wallsend

- Weston Favell

- Wigan Mens

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