The house owners of New Look, the excessive avenue style retailer, have picked bankers to supervise a strategic evaluate which is anticipated to see the corporate change palms subsequent yr.
The funding financial institution’s appointment follows various unsolicited approaches for the enterprise from unidentified suitors.
New Look, which trades from virtually 340 shops and employs about 10,000 individuals throughout the UK, is the nation’s second-largest womenswear retailer within the 18-to-44 year-old age group.
It has been owned by its present shareholders – Alcentra and Brait – since October 2020.
Final yr, the chain reported gross sales of £769m, with an enchancment in gross margins and a statutory loss earlier than tax of £21.7m – down from £88m the earlier yr.
Like most excessive avenue retailers, it endured a torrid Covid-19 and engaged in a proper monetary restructuring by means of an organization voluntary association.
Within the autumn of 2023, it accomplished a £100m refinancing take care of Blazehill Capital and Wells Fargo.
A spokesperson for New Look declined to remark particularly on the appointment of Rothschild, however stated: “Management are focused on running the business and executing the strategy for long-term growth.
“The corporate is performing properly, with sturdy momentum pushed by a profitable summer season buying and selling interval and notable on-line market share features.”
Roughly 40% of New Look’s gross sales are actually generated by means of digital channels, whereas latest knowledge from the market intelligence agency Kantar confirmed it had moved into second place within the on-line 18-44 class, overtaking Shein and ASOS.
