New Look requires backing of half of large landlords to pass CVA

New Look

Embattled fashion retailer New Look will need to convince at least 10 of its 20 largest landlord creditors to support its CVA or risk “Armageddon”.

A property source with understanding of the ongoing negotiations between New Look and landlords told Retail Week the fashion retailer will need to convince at least half of the largest institutional landlords and shopping centre operators to back the deal or it could fail. 

“Of the smaller landlords, New Look will likely get 90% to vote yes, because they understand the alternatives,” he said.

“With the larger landlords, if you were to take the top 20 by size, if they got 10 of them then they’re probably in a good place. If they don’t, it’s probably going to come down to quite a fine margin.” 

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 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:

  • Two free article views per calendar month on
  • 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.