New Look requests 3 month rent holiday

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