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.

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