Wigan's New Look shop faces the axe

The New Look shop for men in Wigan town centre could close as the embattled retailer reveals a rescue plan.

Wednesday, 7th March 2018, 1:49 pm
Updated Wednesday, 7th March 2018, 2:55 pm
The New Look shop is in the Grand Arcade shopping centre

The branch, which is in the Grand Arcade shopping centre, is one of 60 stores that could be shut.

Up to 980 jobs out of its workforce of 15,300 are under threat, although New Look said it would look to redeploy staff where possible.

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A further six sites that are sub-let could also shut and the firm hopes to slash the rent on nearly 400 shops as it pushes ahead with a company voluntary arrangement (CVA).

Executive chairman Alistair McGeorge said: "Given our challenged trading performance and over-rented UK store estate, we are having to take tough but necessary actions to reduce our fixed cost base and restore long-term profitability.

“We have held constructive discussions with our key landlords and strategic partners and will now seek creditor approval on our CVA proposal. A priority for us is to keep all potentially affected colleagues informed during this difficult time.”

New Look confirmed that all stores will remain open as normal until creditors vote on the CVA proposal on March 21.

The retailer also has a women's shop in the Grand Arcade, as well as a branch in Leigh.