New Look CVA approved by creditors

New Look

Source: Shutterstock/tupungato

New Look’s Company Voluntary Arrangement (CVA) proposal has been approved by 98% of the fashion retailers’ creditors.

Under its terms, New Look has identified 60 out of its 593 stores in the UK for potential closure, alongside a further six sites which are sub-let to third parties. However, final decisions on individual store closures will be made by the company and the stores’ respective landlords.

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