The High Court in Ireland approved the appointment of provisional liquidators on Thursday as New Look seeks to wind down its Irish operations following several years of “sustained losses and challenging market conditions”
New Look will be closing 26 of its high street stores in the Republic of Ireland as the Irish branch of the business goes into liquidation.
The move is expected to result in the loss of 350 jobs across the closures. New Look stores will be closed over the coming days, before reopening on February 23 for a clearance sale.
The High Court in Ireland approved the appointment of provisional liquidators on Thursday as New Look seeks to wind down its Irish operations following several years of “sustained losses and challenging market conditions”.
Following the High Court decision, staff at the 26 stores were notified, and the high street fashion retailer – which entered the Irish market in 2003 – said a staff consultation process has begun and will last for the next 30 days. However, a collective redundancy process impacting all employees in the Republic of Ireland is believed to be the outcome. The company said it was focused on supporting its employees through the process.
The Irish Labour Party said urgent action to protect the workers is required from the company. The party’s enterprise spokesman George Lawlor said: “New Look Retailers Ireland Ltd must recognise the human impact of this decision and immediately engage with workers in a meaningful and constructive manner. Workers must be given clarity on redundancy terms or redeployment options. They cannot be left in limbo.”
The company said its Irish operation has struggled for some years, impacted by a range of factors including “supply-chain and in-market costs, and squeezed consumer spending”. It added: “New Look has undergone changes to adapt to this market – including marketing initiatives, store adaptations and price range trials – however, following a strategic review of the Irish business, New Look Group concluded it was no longer viable to continue trading in Ireland.”
A New Look spokesperson said: “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. Following this review, the group regrettably concluded it was no longer viable to continue trading here, so it has made the difficult but necessary decision to enter liquidation in this market.”
New Look said it will be refocusing its investment on its UK business and its digital offering, with collections from fashion retailers that will continue to be available through online retailers such as ASOS and Very.
Full list of Irish New Look stores closing
Dublin
Cork
Galway
- Galway City
- Galway Retail Park
Wicklow:
Other locations:
