Is New Look going up for sale?

A new report has emerged suggesting British retail giant New Look could soon be up for sale. According to Sky News, the clothing retailer’s owners, Alcentra and Brait, alongside New Look’s management, are reviewing options with advisors that could lead to the auctioning off of the business.

The media outlet said that New Look is looking into hiring investment bankers to carry out a strategic review that could take place over the next 12 months. It is expected that, following unsolicited approaches for the business, the appointment of a bank will be made in the “near future”.

A spokesperson for New Look told Sky News that it did not “comment on rumour and speculation”. “Management are focused on running the company and executing the strategy for long-term growth. The company is trading well and has supportive shareholders,” the statement continued.

Private equity firms Alcentra and Brait acquired New Look in October 2020 after it fell into financial difficulties that ultimately led to a failed CVA proposal. It appears that, while not at the same level of turbulence as experienced back then, the retailer is continuing to face monetary challenges today that it is struggling to overcome.

Following sharp declines in full year trading, the company was said to be accelerating store closures and ultimately opted to liquidate its Irish business at the beginning of 2025. While in April, it confirmed that it secured 30 million pounds investment for a digital transformation, by May, it was announcing job cuts across its head offices to help deliver on growth.

FashionUnited has contacted Alcentra, Brait and New Look with requests to comment.