Rothschild reportedly appointed to oversee New Look's strategic review
The owners of New Look are said to have appointed bankers at Rothschild to oversee a strategic review, which is expected to lead to a sale by next year.
Alcentra and Brait, shareholders that have owned the British retailer since 2020, are believed to have turned to Rothschild to advise as they plot a possible exit, according to Sky News.
The media outlet said that the appointment of the bank comes on the heels of a number of unsolicited approaches for the business from unnamed suitors.
A spokesperson for New Look declined the platform’s request to comment on Rothschild’s appointment, but said: “Management are focused on running the business and executing the strategy for long-term growth.
“The company is performing well, with strong momentum driven by a successful summer trading period and notable online market share gains.”
FashionUnited has contacted Alcentra, Brait, Rothschild and New Look with requests to comment and for more information.
New Look, which currently operates around 340 stores across the UK, has continued to grapple a challenging market over the past year, resulting in the liquidation of its Irish business and the closure of a slew of stores across its home region.
The news came after the retailer reported a sharp decline in full year trading in its most recent financial report, reflecting wider monetary challenges and tough trading conditions.
In an effort to mitigate such issues, New Look secured a 30 million pound investment from its shareholders, which it said would go towards a digital transformation.
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