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  • New Look requests 3 month rent holiday

New Look requests 3 month rent holiday

  • Categories Retail News, Top News
  • Date March 27, 2020
  • Comments 0 comment

New Look requests three-month rent holiday from landlords

It also outlined other immediate actions to help navigate the economic impact of the coronavirus pandemic

This includes reducing marketing costs, pausing all production & recruitment, delaying capex projects

New Look has confirmed that it requested a three-month rent holiday from landlords amid measures to help the retailer navigate the economic impact of the coronavirus pandemic.

In a business update, the fashion retailer said it was focused on preserving cash, maximising liquidity, managing working capital and reducing costs.

As a result, it said it has taken “proactive and immediate actions” taken to date, including significantly reducing marketing costs, pausing all production, delaying all significant capex projects and halting recruitment.

Source: Retail Gazette

Tag:coronavirus, new look, Retail news

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Morrisons moves to help customers and staff during the coronavirus outbreak
March 27, 2020

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Coronavirus: H&M asks landlords for rent relief
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