FASHION chain New Look has said it will not comment on “speculation” that the company could close around 60 stores across the UK.

The company, which has a store in Aberystwyth, has been rumoured to be considering the future of 60 stores as part of a potential Company Voluntary Arrangement which could be used to restructure the chain’s obligations to creditors.

It has been suggested that as part of a CVA the company would close around 10 per cent of its UK’s stores, which is around 60 stores, as well as trying to cut the rent it pays on other stores which would remain open.

Reports have claimed that the CVA plan is one of several potential developments under consideration by New Look with no decisions having been finalised and that any decision on the future direction of the company would be made in the coming weeks.

A spokesperson for New Look said the company would not be commenting “on speculation”.

Aberystwyth’s New Look store is based on Great Darkgate Street.

Any potential closure of the store would be a blow to the town, with questions already being asked about the level of business rates for town centre premises after a string of shops closed or said they would be closing.

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