New Look to exit Ireland with the closure of 26 shops
New Look is to exit the Republic of Ireland with the closure of around 26 high street stores.
The fashion retailer’s Irish arm, New Look Retailers (Ireland) Ltd, entered into liquidation on Thursday following “several years of sustained losses and challenging market conditions”.
With the move expected to result in the loss of around 350 jobs, a 30-day consultation period is commencing with affected staff.
All Irish stores will close over the coming days but will re-open on 23 February for a clearance sale.
Never Miss a Retail Update!New Look said that following a strategic review of the Irish business, it had concluded that it was no longer viable to continue trading in the Republic of Ireland.
It added: “The decision to seek the appointment of liquidators was not taken lightly. New Look’s Irish operation has struggled for some years, impacted by a range of factors, including supply chain and in-market costs, and squeezed consumer spending.”
