Bondholders of New Look have appointed the Rothschild investment bank to protect their interests in the event of a financial overhaul at the struggling fashion retailer.
In further signs of trouble on Britain’s high streets, the company is expected to report continued losses and falling sales when it publishes a trading update this week.
Only three months ago Brait, its South African owner, wrote down New Look’s value to zero, less than three years after it had paid £780m for the business. Brait is one of the investment vehicles of Christo Wiese, the South African investor embroiled in the Steinhoff International affair.
