Tuesday October 20, 2020

'Insolvency is on the horizon’ for New Look, court hears

Landlords in Liffey Valley, Navan, Mullingar and Ballincollig claim the retailer, which has 27 shops in Ireland, is using the impact of Covid-19 as a ‘cynical and contrived’ opportunity to reduce rents in the long term

4th October, 2020
New Look Retailers (Ireland), which operates 27 shops in Ireland and employs 475 people, is seeking the protection of examinership following the impact of Covid-19 restrictions and rental leases on its business.

A high-stakes legal action that could have serious implications for retail tenants and their landlords will be decided later this month, when the High Court rules on the appointment of an examiner to the Irish company behind the New Look chain of fashion shops.

New Look Retailers (Ireland), which operates 27 shops in Ireland and employs 475 people, is seeking the protection of examinership following the impact of Covid-19 restrictions and rental leases on its business.

The...

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