A Wokingham Clothes Shop has closed down.
Although signs pointing out the closure have already gone up in the window of New Look in Market Place, the company said that the store will shut its doors for good on Wednesday, February 3.
It comes after the closure of Wallis last year.
In August last year New Look launched a second restructuring round in two years, calling on landlords to agree a turnover rent model in a bid to reduce costs.
It said that the group’s financial position had been hit by the coronavirus pandemic, accelerating the permanent structural shift in customer spend and behaviour from physical retail to online.
In November, this process was completed and the company had received a cash injection of £40 million to support its rescue plan.
Nigel Oddy, New Look’s chief executive officer, said that the deal gave it an enhanced financial strength for future trading and investment.
“Looking ahead, notwithstanding the challenging market conditions, we are focused on delivering our strategy to enhance our position as a leading convenient broad appeal fashion destination,” he added.
However, that was not enough to save the Wokingham Clothes Shop.
A spokesperson told Wokingham.Today: “I can confirm our Wokingham branch is due to permanently close on 3rd February.”