// New Look strikes rent deals for Irish operations
// The fashion retailer recently lost an application for an examiner to be appointed
// New Look said there are no plans to close stores
New Look has reportedly hammered out deals with some of its landlords after failing to appoint an examiner to its Irish operations.
The deals came months after the fashion retailer lost an application for an examiner to be appointed, The Times reported.
A recent filing on the property price register shows that the company has entered a five-year lease at an average annual rent of €300,000 for its Wilton Shopping Centre store in Cork. It was previously paying €365,000.
It has also struck deals with its landlords at Opera Lane and Blackpool in Cork, the Square and Northside shopping centres in Dublin and Cruise Street in Limerick.
Property sources have said that the register filings may relate to base rents only, and that leases are on flexible terms.
New Look suffered an operating loss of €16.7 million in the year to March 28 last year following the Covid-19 pandemic.
It continued its discussions with a number of its landlords “to realign” its rental position. It has no plans to close stores.