The boss of New Look claimed yesterday that the company had turned a corner, even though it fell to an annual loss last year of more than £500 million.
Alistair McGeorge, executive chairman of the fashion retailer, said that it was on “the starting line” after a painful overhaul in which it closed 102 stores in Britain and several more overseas. It also completed a debt-for-equity swap in May that reduced its long-term debts to £350 million from £1.35 billion.
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