New Look Dismisses Idea Of Float This Year

New Look, the UK clothes retailer, came close to listing last year but pulled back after a slump in the market meant the firm would have had to cut its selling price.

It had been thought the company might try to relaunch its listing this year. But John Gildersleeve, the company’s chairman, has put a damper on that idea in an interview with the Daily Telegraph, blaming tough market conditions.

‘The market is not going to improve in the near term because fashion retailing is going to have a difficult year – a combination of a consumer who is more challenged than they have been for many years, and cost increases that the industry has no real experience of,’ he told the newspaper.

Source: Daily Telegraph

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