New Look strikes deal on rent cuts and payment holidays

Landlords grant troubled retailer three-year rent breaks for 68 stores and rent cuts for hundreds of othersNew Look has won approval for a three-year rent holiday on 68 of its stores and big rent reductions on hundreds of others as it battles to stay afloat and save the jobs of its 11,200 employees.Landlords and other creditors voted in favour of an insolvency process known as a company voluntary arrangement (CVA) on Tuesday which will also let New Look reduce rent payments on hundreds of stores