Topshop owner Arcadia could reportedly close 100 locations in its vast stores empire as leases on the shops come to an end by late 2020. That would follow more than 200 closures that have happened since 2016.
As New Look continues to battle its way back from the brink, the British value fashion retailer on Thursday announced that it has made a decision regarding its Belgian ops. And that decision is? To file for insolvency.
New Look's creditors will become its majority owners after the firm announced a deal to cuts its debt load by £1bn. And it also said that trading has been up and down in recent periods, but it thinks it's back on track.
Having joined the struggling womenswear brand in 2016 in order to lead its turnaround, Paul-Henri Cécillon is stepping down from his operational responsibilities, as Nora Meyer takes over as managing director.