New look to shut stores as Labour’s Budget bites
Fashion retailer New Look is set to accelerate store closures and “Chicken King” Ranjit Boparan is pushing supermarkets to swallow big cost increases, as large employers across different sectors grapple with the fallout from Labour’s tax-raising budget.
About a quarter of New Look’s 364 UK stores are said to be at risk of closure when leases expire, raising the prospect of significant job losses across its workforce of about 8,000 staff.
