Deathwatch: Store closures, debt restructure for New Look...

26 June 2012

retail deathwatch If we were gambling types, we’d be putting a heap of money on the demise of New Look sooner or later. They’ve just announced the closure of another 100 stores as part of some kind of ‘turnaround’ plan.

The ‘fashion retail brand’ is currently saddled with £1.1 BILLION of debt but has been given some breathing space by its lenders which to be honest will only delay the inevitable unless something incredibly drastic happens, like the discovery of crude oil wells under all of their shops.

A recent announcement saw profits drop by 23% to £147m, which is still a decent-ish figure, but not with that kind of debt hanging around in the background. They have also renegotiated a delay in the repayment of said debt until 2015. But will they be in a position to start repaying it by then.

Ladies and gentlemen, New Look - huh! What are they good for? Tell us…

TOPICS:   Debt

4 comments

  • The R.
    It`s definitely going a bit pete tong on the high street, where is the caped crusader , saviour of the high street and other shopping malls.....
  • confused
    How the f^ck has it got that much debt it deserves to go under and the cocks running the show thrown in prison that is fecking disgusting. Greed - and the UK being a bunch of skinflints wanting shit for fuck all - thats why the highstreet is fucked.
  • Filter P.
    m e a t . . . Are you confused dot com. Because that advert with the dogs in the hot tub really confuses me. Why have they got bikinis over only two of their nipples ?
  • Johnny2shoes
    awful post you heard it hear again (i was right before) new look willl be saved

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