Up to 980 jobs are being axed at embattled retailer New Look under proposals to shut 60 stores and slash rent on nearly 400 shops as part of a rescue plan.
New Look - which has three stores in Peterborough in Queensgate, Serpentine Green and Bridge Street - which New Look has confirmed will be the one to close.
The company said it was looking to close nearly 10 per cent of its 593-strong UK store estate, with a further six sites that are sub-let also due to shut as it pushes ahead with a company voluntary arrangement (CVA).
It said the closures would lead to redundancies, with up to 980 jobs out of its workforce of 15,300 under threat, although it said it would look to redeploy staff where possible.
Its rescue plan will also see the group ask landlords to slash the rent and revise leases on 393 stores across the UK.
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.’
New Look confirmed that all stores will remain open as normal until creditors vote on the CVA proposal on March 21.
The full list of closures include:
Aberdeen – Bon Accord, Beckton, Bolton Mens, Borehamwood, Brynmawr, Burton Mens, Cameron Toll, Cardiff – Queen Arcade, Cheshunt, Clevedon, Craigleith, Doncaster Mens, Dundee – Wellgate, Exeter Mens, Fleet, Gateshead – Team Valley, Glasgow – Buchanan Street Mens, Gorleston, Hanley Mens – Intu Potteries, Hounslow Mens, Hull – Whitefriargate, Keynsham, Kingswood, Leeds – The Core Shopping Centre, Leicester – Haymarket, London – Marble Arch, London – Moorgate/ London Wall, London – Oxford Circus, Maidenhead, Maidstone Mens, Merry Hill Mens, Metro Centre – Mens, Monmouth, Newport Mens, Newton Mearns, North Shields, Nottingham Mens, Ocean Terminal, Peterborough Bridge Street, Pontypool, Portswood, Ramsgate, Reading – Broad Street, Reading Oracle Mens, Rhyl, Romford Mens, Rugby, Shrewsbury Mens, Sidmouth, Stockport – Merseyway, Stockton-on-Tees, Stratford Upon Avon -Bridge Street, Thornaby, Tonypandy, Torquay – Union Street, Tredegar, Troon, Wallsend, Weston Favell, Wigan Mens.