Plans in store: New Look hoping to secure zero rent on 68 branches amid overhaul

New Look is attempting to secure zero rent on 68 of its stores as it launched a major restructur - ing plan to safeguard 11,200 jobs. Earlier this month, the high street retailer confirmed it was undertaking a company voluntary arrangement (CVA) deal to cut its shop rents and debt pile. It has now said it will field a vote on the CVA on 15 September after sealing a £440 million debt-forequity swap. New Look said it has also secured £40m in new cash to provide it with financial sta - bility to support it for post-covid trading as footfall gradually returns.