New Look Closes Another Store in the UK: What We Know About the Reasons.

Closure of New Look Stores in the UK

According to The Sun: Retailers are taken aback by the news: another New Look store is closing forever. This beloved store, which has been located on the local street for over 20 years, will close its doors on Wednesday, September 17.

Customers are actively purchasing goods on sale before the store closes on Station Road in central Harrow. A sign in the storefront says:

“Thank you for being with us, Harrow. This store will close on Wednesday, September 17. Don’t worry, you can still find us at newlook.com with hundreds of new styles appearing weekly!”

All items in the store are on sale, and many pieces of clothing can be purchased for less than ten pounds.

Strategic Review of the Company

At the same time, it has become known that New Look’s owners are in talks with consultants regarding a strategic review of the brand, which may lead to its sale. Alcentra and Brait, who have owned the chain since 2020, have brought in the financial advisory group Rothschild to oversee this process, according to Sky News.

However, the company assures customers that nothing will change during this process and it will not go bankrupt. A New Look representative said:

“Management is focused on running the business and implementing a strategy for long-term growth. The business is showing good results, as evidenced by a successful trading period during the summer and noticeable gains in the online market.”

Closure of Other Stores

In April, the company secured more than £30 million to expand its online operations. Now, over 40% of the group’s revenue comes from online sales, as customers increasingly prefer digital shopping.

In previous reports, the company warned of closing nearly 100 stores due to the increase in national insurance rates that came into effect in April. Approximately a quarter of the 364 stores in the chain may close when their leases expire. A dozen stores have already been closed this year, including locations in Scotland and Wales.

Here is a list of closed New Look stores:

• New Look, Scarborough – closing on September 17
• New Look, Neath, Wales – closed on August 6
• New Look, Hamilton, Scotland – closed on July 1
• New Look, Birmingham, Northfield Shopping Centre – closed on June 8
• New Look, Willow Place, Corby – closed on June 1
• New Look, Bexleyheath, London – closed on April 19
• New Look, Preston – closed on March 20
• New Look, Valley Retail World in Gateshead, Tyne and Wear – closed on March 9
• St Austell branch in Cornwall – closed on March 4
• New Look, Porth, Rhondda Cynon Taf, Wales – closed on February 22
• New Look, Wickford, Essex – closed on January 24
• New Look, Carillon Court Shopping Centre Loughborough – closed on January 21
• New Look, Devizes, Wiltshire – closed