The High Court has appointed KPMG's Shane McCarthy and Cormac O'Connor as provisional liquidators for New Look's Irish operations amid ongoing financial difficulties. The retailer, which has 347 staff across 26 stores, has seen its Irish market struggle due to various factors, including supply-chain issues and reduced consumer spending. Following an operational review, New Look concluded it was no longer viable to continue trading in Ireland. A 30-day consultation period will begin for staff, with stores closing for clearance sales before reopening on February 23.
A New Look spokesperson said the decision was not taken lightly. They said the retailer's Irish operation had struggled for years, impacted by factors including supply-chain, in-market costs and squeezed consumer spending.
However, due to the increasingly volatile trading conditions we needed to expedite our existing plans, which included conducting a review of our operations in the Republic of Ireland.
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