New Look France collapses into liquidation

New Look’s French business has now been put into liquidation after it failed to find a buyer and filed for receivership for its 30 stores in France at the end of March. The decision was made by the Paris trade court on 26 June.

The news follows New Look’s decision to abandon its menswear store retail altogether, amid the strategy to cut back its international operations. Most of the stores in France will shut their doors in the coming days and their leases will be terminated on a case-by-case basis. New Look has been present in France since 2006, and the liquidation will see over 400 employees laid off.

The fashion retailer, which celebrates its 50th anniversary this year, was operating some 600 stores globally, but the company recently decided to close down its businesses in China, Belgium and Poland.

The business turnaround plans see France as simply the latest market to feel the axe in what are increasingly tough bricks and mortar trading conditions.