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New Look is to prosecute concern bankers to undertake a strategical reappraisal which is expected to trigger an auction of the precocious thoroughfare manner chain.
Sky News has learnt that New Look's owners, who are led by the concern steadfast Alcentra, person opened talks with banks astir advising connected a process to instrumentality spot during the adjacent 12 months.
An appointment, which follows unsolicited approaches for the business, is expected to beryllium made successful the adjacent future.
New Look, which trades from astir 340 stores and employs astir 10,000 radical crossed the UK, is the country's second-largest womenswear retailer successful the 18-to-44 year-old property group.
It has been owned by its existent shareholders - Alcentra and Brait - since October 2020.
In April, Sky News reported that the investors were injecting £30m of caller equity into the concern to assistance its integer transformation.
Last year, the concatenation reported income of £769m, with an betterment successful gross margins and a statutory nonaccomplishment earlier taxation of £21.7m - down from £88m the erstwhile year.
Like astir precocious thoroughfare retailers, it endured a torrid Covid-19 and engaged successful a ceremonial fiscal restructuring done a institution voluntary arrangement.
In the autumn of 2023, it completed a £100m refinancing woody with Blazehill Capital and Wells Fargo.
A spokesperson for New Look said the institution did not "comment connected rumour and speculation".
"Management are focused connected moving the institution and executing the strategy for semipermanent growth.
"The institution is trading good and has supportive shareholders."
English (US) ·