The new look is to hire investment bankers to undertake a strategic examination which should trigger an auction of the High Street fashion chain.
Sky News has learned that the owners of New Look, led by the investment company Alcentra, have opened discussions with banks on the advice on a process that takes place over the next 12 months.
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An appointment, which follows unsolicited approaches for the company, should be made in the near future.
New Look, which is negotiated at around 340 stores and employs around 10,000 people across the United Kingdom, is the second largest retailer for women in the country in the age group aged 18 to 44.
It belongs to its current shareholders – Alcentra and Brait – since October 2020.
In April, Sky News indicated that investors injected 30 million pounds sterling from fresh actions to the company to help its digital transformation.
Last year, the channel declared sales of 769 million pounds sterling, with an improvement in gross margins and a statutory loss before tax of 21.7 million pounds Sterling, against 88 million pounds sterling the previous year.
Like most of the street retailers, he endured a torrid COVVI-19 and engaged in a formal financial restructuring through a voluntary arrangement of the company.
In the fall of 2023, he concluded a refinancing agreement of 100 million pounds sterling with Blazehill Capital and Wells Fargo.
A New Look spokesperson said that the company had not “commented on rumor and speculation”.
“Management focuses on the management of the company and the execution of the long -term growth strategy.
“The company is negotiated well and has support shareholders.”