A list of 50 New Look stores earmarked for possible closure is circulating the retail property industry.
The list, drawn up by market experts, contains the most likely closures that could go ahead if the fashion retailer decides on either a CVA or store closure programme.
Deloitte, CBRE and New Look declined to comment on the individual stores on the list. They added that no decision had yet been made regarding a CVA but confirmed that store closures would be likely.
The list includes stores in a broad geographical spread of locations. Both high street and shopping centre locations as well as a couple of retail parks would be affected.
The South East is home to 10% of the stores, while 25% are in Scotland and 18% are in Wales.
New Look is implementing a turnaround plan and is considering a CVA, under which it could close around 60 of the 600 UK shops in its 7m sq ft estate. A CVA would have to be approved by creditors.
The retailer is looking to cut its overall rent bill as it struggles with a £1.2bn debt pile in addition to a £10.4m loss in made in the six months to September. In-store sales fell by more than 8% during the period on a year-on-year basis.
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