The New Look store in the Bon Accord shopping centre in Aberdeen is one of 60 earmarked for closure around the UK after the fashion chain announced details of a survival plan yesterday.
Up to 980 jobs are being axed at the embattled retailer – an average of just over 16 per shop. The firm also aims to slash rent or revise leases on nearly 400 shops, while the closure plan affects nearly 10% of its 593-strong UK store estate. A further six sites that are sub-let are also due to shut as the chain pushes ahead with a company voluntary arrangement (CVA).
New Look, which employs about 15,300 people, said it would look to re-deploy staff where possible. All stores will remain open as normal until creditors vote on the CVA proposal on March 21.
Executive chairman Alistair McGeorge said: “We are having to take tough but necessary actions to reduce our fixed cost base and restore long-term profitability.”
Details of the potential job losses and store closures follow dire figures from New Look last month, when it posted pre-tax losses of £123.5million for the nine months to December, while UK like-for-like store sales plunged by 10.7%.
