Burnley branch saved from axe as high street fashion giant announces store closures
The popular Burnley branch of high street fashion giant New Look has been saved from closure, for now.
The company announced today that 60 of its 593 UK based stores have been earmarked for closure.
And although the Burnley branch, which is based in the town's Charter Walk shopping centre, is not among the list of those facing the axe a company spokesman said nothing was definite at this stage.
Along with closing 60 stores New Look has also identified six sites which are sub-let to third parties that could also go. The proposal also includes a reduction in rental costs and revised lease terms across 393 stores.
The closures will mean up to 980 staff out of the company's 15,300 workers could be made redundant.
But New Look has said that every effort will be made to find staff jobs at other stores where possible.
Alistair McGeorge, Executive Chairman of New Look, said: “Given our challenged trading performance and over-rented UK store estate, we are having to take tough but necessary actions to reduce our fixed cost base and restore long-term profitability.
"A priority for us is to keep all potentially affected colleagues informed during this difficult time.”