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Re: House of Fraser in trouble...
Quote:
Originally Posted by denphone
Yes it certainly does not look good for New Look that is for sure.
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Quote:
New Look, the fashion retailer, is weighing a plan to close about 10% of its British stores in another sign of the tumult facing the high street.
Sky News has learnt that the South African-owned chain is drawing up proposals for a Company Voluntary Arrangement (CVA), a process often used by struggling retailers to restructure financial obligations to creditors.
Sources said on Thursday night that New Look's CVA plan was not yet finalised and was only one of a number of options under consideration.
A decision about whether to proceed is expected to be taken in the coming weeks, and would require the consent of bondholders.
If it does go ahead with the store closures, roughly one-tenth of New Look's nearly-600 outlets in Britain would be axed, with sizeable rent reductions sought at many of the remaining shops.
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Source 
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History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
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