New Look’s owners are exploring a potential sale of the high street fashion chain as part of a strategic review.
According to Sky News, private equity firms Alcentra and Brait — which took control of the business in 2020 — have reportedly entered discussions with investment banks ahead of a possible auction process over the next 12 months.
The move follows unsolicited approaches for the business, which operates around 340 stores and employs 10,000 people across the UK.
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The news comes just weeks after New Look launched a major head office restructure, placing up to 100 jobs at risk across its London and Weymouth sites. The shake-up was understood to support the next phase of its digital growth strategy.
In April, shareholders injected £30m into the business to accelerate this transformation, with the aim of doubling online orders from £500m to £1bn by 2030.
New Look reported £769m in sales last year, narrowing pre-tax losses to £21.7m from £88m the year before. It also completed a £100m refinancing deal in 2023 with Blazehill Capital and Wells Fargo to strengthen its balance sheet.
Like many fashion retailers, New Look undertook a CVA during the pandemic, closing stores and cutting costs to weather the crisis.
A spokesperson said: “Management are focused on running the company and executing the strategy for long-term growth. The company is trading well and has supportive shareholders.”
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