Regardless of “present process adjustments” to adapt to the retail panorama, New Look Eire is shuttering “because of the difficult market setting; rising prices and weakening client demand”.Â
In current months, New Look Eire has made adjustments to adapt to the difficult retail panorama, together with advertising initiatives, retailer adaptions and worth vary trials. Nonetheless, following a assessment of its enterprise, the excessive road womenswear retailer mentioned “it’s now not viable to proceed buying and selling” in Eire.
New Look Retailers (Eire) Restricted has entered into liquidation with the Excessive Courtroom appointing provisional liquidators right this moment. This choice solely impacts shops within the Republic of Eire and never Northern Eire, that are a part of the New Look Group. The New Look Group will proceed buying and selling on-line and in shops within the UK.
The corporate informed TheIndustry.trend that New Look Retailers (which is a separate entity from the UK’s New Look Group) will stop buying and selling after its clearance sale. New Look has 26 shops and 347 workers members within the Republic of Eire.
Employees on the shops have been notified following the Excessive Courtroom choice and New Look mentioned additional engagement is deliberate over the approaching days. The corporate, which entered the Irish market in 2003, mentioned a 30-day workers session course of will start over the approaching days.
The Irish Labour Social gathering mentioned pressing motion to guard the employees is required from the corporate. The celebration’s enterprise spokesman George Lawlor mentioned: “New Look Retailers Eire Ltd should recognise the human affect of this choice and instantly interact with employees in a significant and constructive method. Staff have to be given readability on redundancy phrases or redeployment choices. They can’t be left in limbo.”
A New Look spokesperson informed TheIndustry.trend: ” Over the previous few years, now we have needed to navigate a troublesome exterior setting which has solely turn into extra unpredictable. Whereas now we have tailored to this evolving panorama by investing in our product proposition and digital supply, the more and more risky buying and selling circumstances have meant we have to expedite our current plans.
“Following a assessment of our operations within the Republic of Eire, we concluded it was now not viable to proceed buying and selling so needed to make the tough however needed choice to place the enterprise into liquidation.
“Our Irish enterprise has struggled for a few years on account of rising prices and squeezed client spending, regardless of our efforts to show across the efficiency. Our focus now’s on supporting our colleagues by this course of. We stay assured within the UK market and take satisfaction in providing our clients nice worth, high-quality trend.”
This follows this morning’s information that Quiz was additionally set to axe tons of of excessive road jobs. The womenswear retailer is ready to axe round 200 jobs this week after it referred to as in directors to rescue the enterprise.
