New Look Poland files for insolvency
New Look has announced that its Polish retail business has filed for insolvency.
The move follows a review of its financial and trading position which concluded that the business was unable to continue trading and that its operations should be wound up.
New Look Poland operates 19 stores in the country.
In a statement New Look said: “NLP’s business has not achieved the necessary profitability to continue its ongoing operations on a standalone basis.”
While the business filed for bankruptcy proceedings on 18 March, it will continue trading while awaiting the appointment of a trustee.
New Look added: “As previously announced, New Look has been reviewing its non-core international markets to ensure it is well positioned to drive strong business performance and profitable growth. This strategic review is continuing.”
