by Apparel Resources News-Desk
1 week ago | 1 min read
British Fashion brand New Look is looking to shut more stores in France, as the place continues to face a tough retail environment. The retailer is axing 262 employees and shutting 21 stores out of its 32 in the country according to a leading news agency.
Notably, by the end of the next week, two stores in Calais and Rouen will be closed down while the other stores will be closed by the end of 2021, as soon as the lease expires or they get a buyer.
The trade union SUD Commerce has opposed the closing, calling it completely uncalled for. “We demand that management freezes the closures that are about to take place from next month,” the trade union organization said.
Furthermore, the company that forayed into France 12 years back, saw its sales decline significantly, registering a dip of 4.8 per cent in 2016-2017 to 67.05 million Euro. To mark out future steps to counter the declining sales, a meeting is scheduled between the management and the staff representatives for next week.
Earlier this year, the retailer has announced to close 60 of its stores in the UK, which is expected to cause 980 job losses in the region along with dropping the idea of expanding the brand in China, which was on the cards for a long time.