Latest news with #NEWLook
Scottish Sun
07-07-2025
- Business
- Scottish Sun
Full list of 12 New Look stores closing in UK this year as chain ‘could be auctioned off' in another blow to high street
You can check out the full list of New Look closures here END OF AN ERA Full list of 12 New Look stores closing in UK this year as chain 'could be auctioned off' in another blow to high street NEW Look shoppers have been warned of 12 closures as the retailer "could be auctioned off". In another blow to the high street, the company will shutter a handful of sites across the UK this year. Advertisement 2 Approximately a quarter of the retailer's 364 stores are at risk when their leases expire Credit: Alamy It comes after the firm previously warned it would close nearly 100 stores ahead of National Insurance hikes which came into place in April. Approximately a quarter of the retailer's 364 stores are at risk when their leases expire. The brand already closed a site in Birmingham on June 8 and another store in Devizes, Wiltshire closed last month. The brand has already closed down eight stores across the UK since the start of the year, launching huge closing down sales to hep shift stock. Advertisement That includes a branch in Bexleyheath, which launched a 70% clearance sale before it closed for good on April 19. It's Gateshead, Tyne and Wear closed on March 9 with items being sold just £1 before it shut for good. You can check out the full list of New Look closures here: New Look, Neath, Wales – closing August 6 – closing August 6 New Look, Hamilton, Scotland – closed July 1 – closed July 1 New Look, Birmingham, Northfield shopping centre – closed June 8 – closed June 8 New Look, Willow Place, Corby – closed June 1 – closed June 1 New Look Bexleyheath, London, closed April 19 closed April 19 New Look, Preston, closed March 20 closed March 20 New Look, Valley Retail World in Gateshead, Tyne and Wear – closed March 9 – closed March 9 St Austell branch in Cornwall – closed March 4 – closed March 4 New Look, Porth, Rhondda Cynon Taf, Wales – closed February 22 – closed February 22 New Look, Wickford, Essex – closed January 24 – closed January 24 New Look, Carillon Court Shopping Centre Loughborough, closed January 21. closed January 21. New Look, Devizes, Wiltshire – closed In February, New Look also exited the Republic of Ireland which resulted in the closure of 26 stores. Advertisement At the time, the company said: "New Look's Irish operation has struggled for some years, impacted by a range of factors including supply-chain and in-market costs, and squeezed consumer spending". It follows reports the high street stalwart had hired investment bankers to explore a strategic review of the business. According to Sky News, owners Alcentra and Brait, are talking to advisers in a move which could trigger an auction of the business. It means nothing will change for customers during this process and it's important to note that the company is not going bust. Advertisement A New Look spokesperson said: 'We do not comment on rumour and speculation. "Management are focused on running the company and executing the strategy for long-term growth. " "The company is trading well and has supportive shareholders'. In April, it was reported the investors were pouring £30million of fresh equity into the business to help move it online. Advertisement Last year, the retailer reported sales of £769million. In 2023, New Look underwent a £100m refinancing deal with Blazehill Capital and Wells Fargo. MORE RETAIL TROUBLE New Look is not the only retailer to feel the pain of rising rents and customers have less money to spend at the till. River Island will close 33 of its 230 stores, pending approval. Advertisement The shops earmarked for closure will stay open until January 2026 to make the most of peak trading. The closures come as River Island carries out a major restructuring of its store estate. Elsewhere, Claire's is mulling a sale of the business leaving question marks over the future of nearly 300 stores in the UK. Hobbycraft and The Original Factory Shop are also shutting branches as part of restructuring efforts. Advertisement RETAIL PAIN IN 2025 The British Retail Consortium has predicted that the Treasury's hike to employer NICs will cost the retail sector £2.3billion. Research by the British Chambers of Commerce shows that more than half of companies plan to raise prices by early April. A survey of more than 4,800 firms found that 55% expect prices to increase in the next three months, up from 39% in a similar poll conducted in the latter half of 2024. Three-quarters of companies cited the cost of employing people as their primary financial pressure. The Centre for Retail Research (CRR) has also warned that around 17,350 retail sites are expected to shut down this year. It comes on the back of a tough 2024 when 13,000 shops closed their doors for good, already a 28% increase on the previous year. Professor Joshua Bamfield, director of the CRR said: "The results for 2024 show that although the outcomes for store closures overall were not as poor as in either 2020 or 2022, they are still disconcerting, with worse set to come in 2025." Professor Bamfield has also warned of a bleak outlook for 2025, predicting that as many as 202,000 jobs could be lost in the sector. "By increasing both the costs of running stores and the costs on each consumer's household it is highly likely that we will see retail job losses eclipse the height of the pandemic in 2020."
Scottish Sun
24-06-2025
- Business
- Scottish Sun
New Look to shut popular branch in WEEKS after already closing 32 stores – is your local going?
We also share why the British fashion chain has been struggling recently SHUTTERS DOWN New Look to shut popular branch in WEEKS after already closing 32 stores – is your local going? NEW Look will shut a popular branch in weeks after 32 stores have already closed across the UK and Ireland. The British clothing chain will close down a branch in Neath, Wales on August 6. Advertisement 1 New Look is closing it's branch on August 6 Locals shared a snap of the closing down sign on social media, prompting shoppers to share their heartbreak. One punter blamed online shopping for the closure, claiming it has "killed the high street". While another resident said they "couldn't believe it". And a third moaned there would be "nothing" in Neath soon. Advertisement New Look previously warned it would shut nearly 100 stores ahead of National Insurance hikes which came into place in April. Approximately a quarter of the retailer's 364 stores are at risk when their leases expire. This equates to about 91 stores, with a significant impact on its 8,000-strong workforce. News of the closure comes just days after New Look pulled the shutters on its branch in Birmingham's Northfield shopping centre. Advertisement The popular store closed on Sunday, June 8. Earlier this month, the fashion retailer closed its two-storey shop in the Willow Place shopping centre . Beloved high street chain with 24 Irish locations confirms Dublin city centre store closing down in 10 days in huge blow In May, it closed branches in St Austell and Gateshead, Tyne and Wear. The chain has previously closed locations in Porth, Rhondda Cynon Taf and Wickford, Essex. Advertisement In February, New Look also exited the Republic of Ireland which resulted in the closure of 26 stores. At the time, the company said: "New Look's Irish operation has struggled for some years, impacted by a range of factors including supply-chain and in-market costs, and squeezed consumer spending". TROUBLE ON THE HIGH STREET New Look is not the only fashion brand facing a hard time. River Island revealed plans to shut 33 of its 230 stores, pending approval. Advertisement A further 70 stores are also at risk, with its future depending on agreements being reached with landlords to cut rent agreements. Just weeks ago the British retailer drafted in advisers from PricewaterhouseCoopers (PwC) to come up with money saving solutions for the business. Poundland will close 68 stores following its £1 sale to US investmet firm Gordron Brothers. But even before this announcement, the bargain chain had already planned to close 18 stores, Advertisement
The Sun
26-04-2025
- Entertainment
- The Sun
Major retailer drops dupe of iconic Chloé straw handbag – and it's £560 cheaper
NEW Look just dropped the perfect straw handbag for summer — and it's almost identical to the iconic Chloé basket bag. The designer arm candy would set shoppers back by £590, but the high street dupe costs just £27.99. New Look Woven Basket Tote Bag, £27.99 BUY HERE New Look's Woven Basket Tote Bag already has fashion fans rushing to pick it up ready for the hot weather. It features a woven design, with stylish cream handles and an open top. The handbag is the perfect accessory for summer holidays, and it would pair with everything from beachwear to floral maxi dresses. Everything about the high street version resembles the popular Chloé Woody bag, which has been a designer favourite for years. The new-in number is yet to rack up any reviews, but it's already selling fast. Chloé Large Woody Basket Tote Bag, £590 The Chloé Woody range is considered one of the luxury brand's best-loved bags, along with the Paddington and the Marcie. Designer dupes are a great way to get the premium look for less, and most high street retailers have more affordable versions of iconic fashion pieces. H&M recently released a £43 chocolate brown handbag that resembles The Row's popular Margaux suede bag, while Marks & Spencer stocks a pair of on-trend buckle flats that are a dupe of Ganni's £350 shoes. Every high street retailer is currently releasing its summer pieces, so there's no better time to pick up your favourites before they sell out. The New Look handbag is large enough to store essentials for trips to the beach or days out, and similarly to the Chloé tote, it will be a staple in any summer wardrobe. New Look Straw Tote Bag is ideal if you want to channel the designer look for less.
