Axe fears at New Look

NEW Look bosses are refusing to comment on speculation that its Glasgow stores could be facing the axe.

The fashion retailer is said to be considering plans to close around 10 per cent of their British shops.

The move could put some of the five Glasgow stores and hundreds of staff at risk.

A decision on the future of stores has not yet been finalised and is set to be taken in the coming weeks.

BOSSES of one of Glasgow’s most popular clothing chains have refused to comment on speculation that stores could face the axe.

New Look are said to be currently considering plans to close around 10 per cent of their British stores.

The move could put some of the five Glasgow stores and hundreds of staff at risk.

The South African-owned chain is said to be drawing up proposals for a Company Voluntary Arrangement (CVA) to restructure financial obligations to creditors.

A decision on the future of stores has not yet been finalised and is set to be taken in the coming weeks.

New Look currently has nearly 600 outlets in Britain, including five in Glasgow, with additional branches in East Kilbride, Newton Mearns, Paisley, Clydebank, Cumbernauld and Kirkintilloch.

Their branch in Sauchiehall Street closed permanently last year following the opening of its first ever menswear branch in Buchanan Street.

New Look declined to comment.