New Look jobs under threat as high street fashion chain prepares to shut raft of stores – Scottish Daily Record

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High street fashion chain New Look is looking to close a raft of stores in a bid to cut costs.

The retailer has almost 600 outlets in the UK with more than 30 stores located in Scotland.

Sky News reports that the South African-owned chain is looking to shut around 10 per cent of their stores while the company is also said to be drawing up plans for a Company Voluntary Arrangement (CVA) which would allow the struggling firm to restructure its outgoings and its debts.

The CVA proposal and store closure plan has not yet finalised with a decision expected in the next few weeks.

It is not yet clear how many jobs would be affected.

New Look ‎is the just the latest high street retailer to feel the pinch due to the increase in online shopping .

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