Alcentra and Brait, the owners of fashion brand New Look, have selected bankers to supervise a strategic review of the fashion retailer.
Rothschild will advise the business and its shareholders, Sky News reported on Sunday (24 August).
Alcentra and Brait have co-owned the fashion firm since 2020, after acquiring a 90% stake in New Look for £780m.
Despite declining to comment specifically on the Rothschild appointment, a New Look spokesperson said: “Management are focused on running the business and executing the strategy for long-term growth.
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“The company is performing well, with strong momentum driven by a successful summer trading period and notable online market share gains.”
In May, New Look revealed plans to axe up to 100 jobs from its head offices in London and Weymouth as part of a business-wide restructure.
Its owners injected £30m of fresh equity into the fashion chain in April, in a bid to bolster its digital transformation.
In June, it was reported that New Look had begun looking to hire investment bankers to undertake a strategic review of the business, following unsolicited approaches to acquire the company.
New Look has been approached for comment.
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