Is New Look closing stores 2023? Which UK stores will close down, when will they shut - full list of closures

New Look has announced several of its UK stores will be closing in the early part of 2023 - although it will also be opening four new sites over the coming weeks.

It follows dozens of store closures by the high street fashion retailer in recent years after it entered an agreement known as a Company Voluntary Arrangement (CVA) in 2020 to avoid collapsing. The chain insisted its latest move was “normal” for a business of its size. Rival clothing store H&M has also announced store closures this month.

The news comes as retailers across the UK are grappling with reduced consumer spending in the wake of the cost of living crisis. High interest rates are also damaging business operating models, with the UK expected to fall into a recession at some point in 2023.

Several big names have already fallen victim to the challenging economic picture, with Paperchase, M&Co and Missguided among the major brands to have gone under in recent months. Sports teams have also been hit, with rugby union sides Wasps and Worcester Warriors both collapsing in 2022.

So, which New Look stores are closing - and what has the company said about the closures?

Which stores will New Look close?

Most of the stores New Look has earmarked for closure have already shut their doors. But one is still yet to shut down. Here’s a full list of the affected sites:

• Birmingham Fort Shopping Park - Closed
• Birmingham Bullring - Closed
• Coventry - Closed
• Walthamstow, London - Closed
• Trowbridge, Wiltshire - Closed
• Kirkcaldy, Fife - Closed
• Northampton Grosvenor Centre - Closing soon

The number of New Look retail sites fell from 475 in 2020 to 407 in 2022. In its latest accounts for the year to 26 March 2022, which it filed with Companies House in October last year, the company said these closures were mostly down to the CVA it entered into in 2020.

This arrangement has enabled New Look to switch many of its UK stores to a turnover-based rent model (i.e. the rent they pay to commercial landlords depends on how well the shop performs), while other sites were placed into a three-year rent holiday that expires in September 2023. It also allowed the retailer to slash its debts by more than a fifth.

The deal with its creditors (i.e. the people it owes money to) has enabled the business to get itself on a healthier footing, after its finances were hit by Covid-19 lockdowns and longer-term trading challenges. However, it has proven to be controversial amongst some of its landlords.

What has New Look said?

New Look has told NationalWorld the latest store closures were down to several factors, including expiring leases and the potential opening of several new sites in nearby areas. It opened two new sites towards the end of 2022, and has plans to open another four in the coming weeks (although the locations have not yet been revealed).

A spokesperson for the retailer said: “As part of the normal course of business, New Look occasionally closes sites, but also opens new stores when the right opportunities arise. While a small number of stores have closed in recent months, our most recent new openings were in November 2022 and we have plans for further openings in the first half of this year.”

NationalWorld asked the retailer where it will be opening new sites, but New Look has not yet commented.