The High Court has refused to appoint an examiner to the Irish arm of the New Look fashion retailer as it would be “entirely premature”. New Look claimed they were substantially above-market rents for retail and it had to stop paying rent during lockdown and only made a contribution after stores were allowed to reopen. On Wednesday, Mr Justice Denis McDonald said it was “entirely premature” to consider appointing an examiner and the company failed to demonstrate it was necessary at this time. There is still time for serious negotiations before insolvency looms more immediately in sight, he said. However, he did not believe it was necessary to consider whether there was a basis to make an adverse finding against the company on that ground.

Source: The Irish Times October 14, 2020 15:00 UTC