Retailer New Look is reportedly considering closing scores of its shops across the country, in the wake of a recent review of its store portfolio.
According to a report in the Financial Times, leases at 100 of New Look’s 600 UK outlets are due to expire over the next three years. The newspaper claims 60 shops have so far been singled out for closure, but all 100 could go if the chain is unable to agree suitable terms with landlords.
However, a spokesman for New Look told Retail Gazette that nothing is as yet set in stone, and insisted each lease would be judged on its individual merits.
“The 60 stores which we have looked at are small ones in locations where we think a larger New Look store could operate,” the representative explained. “As part of the review we have also identified around 30 areas where we currently do not have a store but which New Look could move into.”
Earlier this week, Sun European Partners completed its buyout of fashion retailer Bonmarche, which was put up for sale after its parent, Peacocks, went into administration.
