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Fashion chain New Look could face liquidation

PUBLISHED: 15:38 09 September 2020 | UPDATED: 15:38 09 September 2020

New Look could face liquidation after the firm failed to secure a buyer. Pic: New Look

New Look could face liquidation after the firm failed to secure a buyer. Pic: New Look

Archant

The company, with shops in Ipswich, Bury St Edmunds, Lowestoft, Beccles, Sudbury and Newmarket, warned that it could be forced to consider “less favourable alternatives”, which are understood to include liquidation, if creditors do not back its proposals.

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Last month, the fashion chain said it was canvassing sales interest in a bid to secure its long-term future. However, no bids were made for the whole firm.

The company’s future will now rely upon securing backing from landlords for its company voluntary arrangement (CVA) proposals, which go to a vote on September 15.


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