Christo Wiese has decided to step down as a non-executive director of New Look as well as from the position of chairman of New Look parent company Brait. He will, however, remain as a non-executive director of Brait, retaining his seat on the board. Chris Seabrook will replace Wiese on the New Look board.
New Look joins the plethora of retail businesses seeking to restructure. It is preparing the ground for a CVA which will enable it to reduce headcount by just under 1000 and close 60 under-performing stores.
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