A spokesperson for the fashion chain, which moved into the King Street store vacated by Woolworths in 2009, confirmed to the JEP: ‘We have no plans to exit Jersey.’ The announcement comes after the retail group said it was to close 60 stores across the UK after entering into a Company Voluntary Arrangement.
The company recorded a £235 million loss last year after poor retail performance in both its shops and online.
However, Jersey shoppers should benefit from last week’s announcement that 80 per cent of the New Look inventory will now be sold at under £20.
The fashion chain has renegotiated rents for its remaining 393 stores in the UK and cut almost 1,000 jobs. Alistair McGeorge, executive chairman, has promised to turn around the group’s fortunes.
St Helier recently saw the closure of Mothercare after the chain shut 50 stores as part of a rescue package for its struggling business.