New Look completes debt restructure

New Look sign

New Look has completed its restructuring, slashing its debt to enable it to invest in its turnaround strategy.

The retailer, which struck the debt-for-equity swap with a group of key stakeholders in January, has reduced its debt to £1.35bn to £350m and freed up £150m of new capital.

New Look said that its new structure would allow it to better navigate the current market and billed it as allowing management to focus on long term growth thanks to the removal of maturing loans. The strengthened balance sheet should allow the business to accelerate investment in its turnaround.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.