March 9, 2018
Burnham-On-Sea's New Look store is 'safe' despite 60 store closures

Burnham-On-Sea's New Look clothing store won't be closing, the firm has confirmed this week as it announced plans to shut 60 stores across the UK.

The company is cutting up to 980 jobs under proposals to shut dozens of stores and slash rent on nearly 400 shops as part of a rescue plan.

The firm intends to to axe around 10% of its 593 stores with a further six sites that are sub-let also due to shut as it pushes ahead with a company voluntary arrangement.

However, staff at local Somerset stores in Burnham-On-Sea, Bridgwater and Taunton breathed a sigh of relief as these branches won't initially be affected.

Alistair McGeorge, executive chairman of New Look, said: "Given our challenged trading performance and over-rented UK store estate, we are having to take tough but necessary actions to reduce our fixed cost base and restore long-term profitability."

The announcement of the potential job losses and store closures comes after poor trading figures from New Look in February, when it posted a pre-tax loss of £123.5 million in the three quarters to December, while UK like-for-like sales plunged 10.7% and online sales fell 15%.


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