New Look faces fresh blow as insurer cuts cover for suppliers

The move is the latest setback for the struggling fashion retailer, whose credit rating was downgraded to junk status in December

New Look is coming under fresh pressure after an insurer stopped selling cover against insolvency to its suppliers, in the latest sign of difficulties for retailers amid a squeeze on consumers’ spending power.

The troubles for the high-street fashion chain come after a difficult Christmas for many leading retailers.

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