New Look Retailers (Ireland) Limited has entered into liquidation, as the fashion retailer faces “challenging market environment; rising costs and weakening consumer demand” in the region.
This decision only impacts New Look stores located in the Republic of Ireland. Stores in Northern Ireland, which are part of the New Look Group, are not affected.
The high street fashion retailer had recently implemented a number of marketing initiatives, store adaptations and price range trials in an effort to adapt to the challenging retail landscape. However, a business review concluded that continued trading in Ireland was no longer viable.
A spokesperson for New Look, said: “Over the past few years, we have had to navigate a tough external environment which has only become more unpredictable.
“We have adapted to this evolving landscape by investing in our product proposition and digital offer. However, due to the increasingly volatile trading conditions we needed to expedite our existing plans, which included conducting a review of our operations in the Republic of Ireland.”
Its 26 stores will be closed briefly, before reopening on 23 February 2025 for a clearance sale. Over 340 staff will be entered into a 30-day staff consultation process over the coming days.
“Our focus now is on supporting our colleagues through this process. We remain confident in the UK market and take pride in offering our customers great-value, high-quality fashion,” the spokesperson concluded.
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