New Look sale possible as owner kickstarts strategic review - report

(Sharecast News) - New Look's owners have begun talks with investment bankers which could lead to the high street chain being put up for sale, according to reports on Friday. Sky News reported that investment firm Alcentra, which has owned New Look since 2020, has reached out to advisers to kickstart a strategic review of the 340-store chain.

The process is to take place during the next 12 months, but could trigger an auction of the business, Sky News said.

An appointment of investment bankers is expected to be announced soon, and follows "unsolicited approaches" for the retailer, the news report said.

Sky News cited a company spokesperson, who refrained from commenting on the speculation, saying that the retailer was "trading well and has supportive shareholders".