New Look has confirmed the closure of yet another store as the chain continues its restructuring its store estate.
A major fashion chain with 200 stores has “abruptly shut” another branch leaving shoppers gutted. New Look has confirmed the closure of yet another store as the chain continues its restructuring its store estate.
The change to its cataloge of branches has taken place over the past six years, reducing its footprint from around 600 stores in 2018 to just 364 today. The first closure of the year came when the New Look store at Bracknell Peel Centre shut its doors on January 30.
A New Look spokesperson confirmed the company’s commitment to serving customers online, stating: “Our store at Bracknell Peel Centre closed on January 30th. We would like to thank all of our colleagues and the local community for their support over the years.
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“We hope customers continue to shop with us online at Newlook.com, where our full product ranges can be found.” The closure was followed by the closure of the Essex branch on January 24.
Now, New Look has shuttered the New Look store in Porth, Rhondda Cynon Taf, which will shut down for good on February 22. It comes after reports suggest New Look is set to accelerate future store closures when leases expire. The Times reports that around a quarter of its 364 UK stores – around 91 sites – could be at risk of closure. It also raises fears of job losses across its 8,000 workforce.
The company reported a pre-tax loss of £3.7million on sales of £735.4million in the year to March. New Look had almost 600 UK stores in 2018. A spokesperson told The Times: “Our store estate is an important part of our business, alongside our best-in-class website and app.
“On occasion we do have to close stores, either due to the landlord’s request or because the site becomes unviable. However, we remain on the lookout for appropriate new opportunities across the country and continue to invest in our existing store estate.“