New Look owners Alcentra and Brait have initiated a sales process for the British fashion chain. The aim is to complete a sale somewhere next year.
Sale takes shape
Both shareholders have a controlling stake in New Look since 2020, but the UK heavyweight is struggling with major losses. The chain is runner-up in the United Kingdom in womenswear among 18- to 44-year-olds, and employs 10,000 people in its 340 stores. Admittedly, its losses are shrinking, from 88 million pounds to ‘just’ 21.7 million (25 million) last financial year. The chain also claims a growing market share online and strong summer sales.
