Top US firms among adviser line-up as New Look confirms plans to close stores and cut jobs

A&O and Paul Hastings among advisers on clothing store's company voluntary arrangement

Paul Hastings and Sidley Austin are among a line-up of law firms advising on clothing store New Look’s company voluntary arrangement (CVA), in the latest high-profile retail restructuring to hit the high street.

The fashion giant has confirmed that it is seeking approval from creditors to close about 60 of its 593 UK stores, placing 900 jobs at risk. The proposal also includes a reduction in rental costs and revised lease terms across 393 stores.

This premium content is reserved for
Legal Week Subscribers.

Subscribe today to get ALL ACCESS and 15% off!

A premium subscription gives you access to all articles and provides:

  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM’s unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week’s UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor’s Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site’s full archive of more than 56,000 articles

Subscribe Now For All Access

For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651