New Look announces proposed recapitalisation transaction

New Look Retail Holdings Ltd Group in the United Kingdom has agreed with its financial creditors to the key terms of a comprehensive recapitalisation transaction that will extend New Look’s facilities, deliver a new money investment of £40 million and significantly de-leverage the balance sheet. It will have funding to provide a sustainable platform for post-COVID trading.

The transaction will enable the group to invest in and deliver its strategic business plan, according to a company press release.