New Look could be forced to put itself up for sale in order to complete the refinancing process that it announced last week.
According to a corporate note seen by The Guardian, New Look said in order to finalise the refinancing it “may be required to launch a sale process for the group in which other interested parties could participate”.
The refinancing is part of a debt-for-equity swap that New Look is pursuing as part of restructuring plan to cut debts from £1.35 billion to £350 million.
The plan will also see bondholders given a significant majority ownership in a bid to cut debts,
The restructure is expected to be finalised by April.
