Fashion retailer New Look is set to close more stores ahead of tax increases this April.

Around a quarter of the retailer's 364 stores are thought to be at risk when leases expire, with the potential for up to 8,000 job losses, as reported by Retail Gazette.

New Look already has no stores in Gloucestershire. The Cheltenham store closed in 2023, and the Gloucester store shut in 2018 - when the retailer downsized its portfolio from 600 UK stores.

While some shops may have closed anyway, the likely acceleration is thought to be due to the significant cost increases announced in October's Budget.

Changes include the rise of employers' National Insurance contributions from 13.8% to 15%, while the threshold has gone down from £9,100 to £5,000. The minimum wage is set to rise 6.7% to £12.21 per hour.

New Look said it does sometimes have to close stores due to requests from landlords or if a site becomes unviable, but that it continues to look for suitable new sites around the country.

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