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New Look landlords have today lost their legal battle against the high street retailer’s restructuring plan. The High Court ruled against the group of landlords that had challenged New Look’s company voluntary arrangement. The retailer launched its second CVA within two years last September after its sales suffered during the coronavirus pandemic. New Look’s proposal [...]
New Look today defeated a legal challenge to its restructuring plan by a group of its landlords in a landmark case that experts say will clear the way for other retailers to use Company Voluntary Arrangements to combat the impact of the pandemic. The ruling is likely to deepen tensions between tenants and landlords, as [...]
The Walmer Castle in Notting Hill, formerly owned by David Beckham and Guy Ritchie, is about to reopen with a new look. Here is the first image.
New Look’s landlords and creditors have given the struggling retailer the green light to push ahead with restructuring plans. The majority of landlords have approved plans to allow the high street chain to switch to turnover-based rents at 402 of its UK stores, which will align rent payments with future sales performance. The remaining 68 [...]
High street retailer New Look has asked landlords to change the way it pays rent on most of its stores in a bid to secure a £40m cash injection. The fashion chain launched a company voluntary arrangement (CVA), which involves resetting 402 stores to turnover rent to align rent payments with future performance. The turnover [...]
Prime Minister Rishi Sunak has hailed his “strong and united team” as his new-look cabinet featuring Lord David Cameron met for the first time this morning after a dramatic reshuffle.
New Look will warn landlords next week that it could go bust if it isn’t granted further rent cuts. The high street brand has almost 500 stores across the UK and employs more than 12,000 people. It is set to propose its second company voluntary arrangement (CVA) within two years after its sales suffered as [...]
New Look has proposed another restructuring of its retail network, its second in three years, after coronavirus significantly impacted its finances. The fashion retailer has asked landlords to agree new turnover-based leases across its portfolio, having already closed stores and negotiated rent reductions as part of a company voluntary arrangement (CVA) two years ago. “Out [...]
New Look has urged its landlords to back its restructuring plans after the struggling high street retailer failed to attract a buyer. The company said this morning that some parties had expressed an interest in certain New Look assets, however no bid was received for the firm. New Look’s landlords and other creditors will now [...]
It has been what Sir Alex Ferguson used to call “squeaky bum time” for fashion retailer New Look these past few days. On Monday it was being reported that British Land and Landsec, two of the chain’s biggest landlords, were preparing to vote against the proposed company voluntary arrangement (CVA) which would have switched the [...]
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