Following acquisition of Psyche, Frasers now buys New Look’s Brighton store

British Clothing retailer New Look’s newly acquired Brighton store has been bought by Frasers Group.

The acquisition comes in the wake of retailer’s recent purchase of Psyche’s online and store operations.

The Brighton store is situated on 188-191 Western Road.

Also Read: Frasers Group buys fashion retailer Psyche

Last September saw New Look’s company voluntary arrangement (CVA) get approval from over 75 per cent of creditors – including landlords.

Also Read: New Look’s CVA finally gets approved! 11,000 jobs saved

The approval meant that that New Look would shift over 400 of its UK stores to turnover-based rent model and a 3-year rent holiday on its remaining 68 stores.

Since the CVA did not include any store closures, over 11,000 jobs could be saved. Founded in 1969, New Look is known for selling womenswear, menswear and apparels for teenagers.

Meanwhile, Frasers Group, which has had a good beginning in 2021 following the acquisition of Psyche and now New Look’s Brighton store, has announced the shutting down of its Jenners store in Edinburgh.

The closure of the Jenners store was due to Group’s inability to reach an agreement with the owner of the Jenners building to go ahead with their tenancy.