New Look has become the latest high street retailer to fall victim to tough trading conditions, announcing on Wednesday that it plans to shut 60 stores which could cost almost 1,000 jobs. Like other high street retailers, New Look has been battling tough trading conditions, made worse by the surging popularity of online retailers. Last month the company posted a pre-tax loss of £123m for the three-month period to the end of December 2017. Earlier this month both Toys R Us and Maplin collapsed into administration, putting close to 5,000 jobs at risk. Several restaurant chains have also been forced to restructure and cut jobs, partially as a result of inflation squeezing consumer spending power and confidence, but also a rise in business rates and minimum wages.
