High business rates, reduced footfall on the high street, and lower consumer confidence were among the triggers that led to the decline of the New Look chain in Ireland, the High Court heard on Thursday morning. It was a brief ex parte (one-side-only) hearing as the retailer successfully petitioned to have Shane McCarthy and Cormac O’Connor of KPMG appointed as joint provisional liquidators to the company — an interim measure to safeguard assets until a full wind-up petition, on notice to creditors, is heard on March 10. In a statement issued by the company, a New Look spokesperson said the…

Want to continue reading?

Introductory offer: Sign up today and pay €200 for an annual membership, a saving of €50.

Subscribe

Cancel at any time.

Are you already a member? .