Frasers Group snaps up New Look Brighton store

The store is found on 188-191 Western Highway.

New Look’s CVA, which proposed that 68 shops swap to zero lease and 402 are transformed to turnover-centered lease phrases, was permitted in September by the requisite majority of far more than 75{cbf6da10fac2230370cea9448ed9872290737d25c88b8c8db3eefaf8c399e33d} of its lenders, together with landlords and suppliers. The CVA has a 3-calendar year term.

It is the next CVA for New Appear in two yrs. In 2018, lenders permitted a CVA that led to 60 store closures and virtually one,000 job cuts.

The go comes following Frasers Team declared earlier this week that its iconic Edinburgh Jenners department store will completely near on three May perhaps. The closure will guide to the reduction of 200 positions. Frasers Team claimed it was not able to reach an agreement with the building’s owner, Bestseller CEO Anders Holch Povlsen.

Drapers has contacted Frasers Team, although New Appear declined to comment.