Which New Look stores are closing down in the UK and what is a Company Voluntary Agreement? | The Sun

BRITISH fashion retailer New Look announced that several stores will close forever in 2023.

The high street chain last closed 85 of its shops and laid off hundreds of staff back in 2018.

Find out if your nearest store is closing down this year – and why so many closed permanently recently…

How many New Look stores are closing this year?

The retailer has closed five stores this year and plans to shut another two forever.

The following stores have already closed:

  • Birmingham, Fort Shopping Park – January 9
  • Trowbridge – January 23
  • Coventry – January 29
  • Birmingham, Bullring – January 30
  • Walthamstow, London – February 4

New Look will close its Grosvenor Centre store in Northampton on February 15 and its Kirkcaldy store by the end of the month.

But in November 2022 New Look opened several shops across the UK.

It also has plans to open more stores later on in the year – though it hasn't said how many and where in the UK they'll be.

How many New Look stores shut in previous years?

In 2018, New Look sought approval from creditors to cut 1,600 staff and close more than 85 stores after it performed poorly and struggled to pay back loans.

In a statement, the company earmarked 60 out of its 593 stores for closure, as well as a further six sites which are sub-let to third parties.

The Company Voluntary Arrangement proposal also included a reduction in rental costs and revised lease terms across 393 stores.

As a result, up to 980 of its 15,300 UK staff were made redundant.

And later on in 2018, a further 25 stores were announced to be closing.

The retailer also closed all 148 of its stores in China.

New Look closed its stores in the following locations:

  • Aberdeen – Bon Accord
  • Beckton
  • Bolton Mens
  • Borehamwood
  • Brynmawr
  • Burton Mens
  • Cameron Toll
  • Cardiff – Queen Arcade
  • 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

When was New Look founded?

New Look was founded by Tom Singh in Taunton, Somerset, in 1969.

Prior to the closures, it now has more than over 900 stores internationally, including in Belgium, France, the Netherlands, Republic of Ireland and Romania.

It has expanded into Asia, with outlets in Malaysia, South Korea, Singapore, Thailand, Indonesia, United Arab Emirates and China.

Read up on New Look rival Topshop


I'm a size 26 & did a Topshop haul…getting on a pair of jeans was exhausting


I’m a size 22 & 5ft 4…I tried Topshop’s curve range, here’s my honest thoughts


I'm plus-size and I tried Topshop's new curve range – here's what I honestly think

Jean genie

I’m a size 22 & never realised a cult high street brand did plus size clothes

The group had a turnover of £1.1billion in 2008, with profits of £180 million.

New Look was acquired by South African organisation Brait SE, which also owns the health club chain Virgin Active, for £780 million in May 2015.

Brait SE is a South African investment heavyweight in which tycoon Christo Wiese owns about a third of its stock.

Source: Read Full Article