Internal restructuring
United Kingdom
Location of affected unit(s)
Retail Trade, Except Of Motor Vehicles And Motorcycles
Retail Sale Of Other Goods In Specialised Stores
47.71 - Retail sale of clothing in specialised stores

980 jobs
Number of planned job losses
Job loss
Announcement Date
21 March 2018
Employment effect (start)
1 September 2018
Foreseen end date
31 March 2019


Fashion retailer New Look has confirmed plans to close 60 of its 593 stores and make 980 redundancies out of a total headcount of 15,300, as part of a rescue package to keep the business operational. The company had been forced to enter into a Company Voluntary Arrangement (CVA) with its creditors. The deal will see rents reduced on 393 stores in the portfolio. The deal had been announced earlier in March, but was subject to final approval from creditors. The decision to approve the deal was seen by many commentators as inevitable, given the current financial position of many high street retailers. Final decisions on which stores will be closed will be confirmed by New Look in due course, and it is understood that the closures will take place between six and twelve months following this announcement.


  • 21 March 2018: BBC Website
  • 21 March 2018: The Independent


Eurofound (2018), New Look, Internal restructuring in United Kingdom, factsheet number 93712, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/93712.