On 13 August 2020, New Look Retail Holdings Limited (“New Look” or the “Company”, and together with its subsidiaries, the “Group”) announced that it had initiated a process to contact a number of strategic and financial investors to determine potential interest in an acquisition of the shares of the Company or assets of the Group (the “Sale Process”).
Further to the announcement made on 9 September 2020, the Company can now confirm that the Sale Process, which did not result in any transaction, has been concluded given the overwhelming level of support from the Group’s creditors in respect of the comprehensive recapitalisation transaction announced on 13 August 2020 (the “Transaction”). The Group will continue to pursue the Transaction towards completion and will provide an update in due course.
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About New Look
New Look is a leading multichannel retailer operating in the value segment of the clothing and footwear market in the UK and ROI. We focus on delivering value for money and ‘newness’, wherever, whenever and however customers choose to engage with us. The New Look brand has high levels of awareness and recognition in the affordable womenswear market, catering to a broad customer audience with our bullseye customers aged 18 to 45 years. We also have a range for teen girls and an online menswear offer. We are the number 2 UK Womenswear retailer for women aged 18 to 44 by value1.
1 Based on Kantar Worldpanel published data 52 weeks ended 3 May 2020