New Look has confirmed its branch at at the Team Valley Retail World in Gateshead, Tyne and Wear, will close forever next month.

       The high street giant, which reported pre-tax losses amassing ￡3.7 million, will close its Gateshead store on 9 March, adding to four confirmed closures this year.

       A New Look spokesperson said: "Our Gateshead Team Valley store is set to close on 9 March at the landlord's request. We would like to thank all of our colleagues and the local community for their support over the years.

       "We hope customers continue to shop with us online at newlook.com, where our full product ranges can be found."

       In January, New Look closed its Wickford store in Essex, Carillon Court in Loughborough and Peel Centre in Bracknell, while its Porth store in Rhondda Cynon Taf, Wales, is due to close in a few days on 22 February.

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       New Look Team Valley announced the closure on its Facebook page: "CLOSING DOWN SALE ALERT! It's time for BIG savings at New Look Team Valley! We're saying goodbye on March 9th, and everything must go!"

       Residents took to social media to share their disappointment, with one saying "This is devastating," while another added "This is terrible, so many closures in the area!".

       Roughly a quarter of the fashion retailer's stores could be at risk of closure following its reported pre-tax loss of ￡3.7 million on sales of ￡735.4 million, according to The Times.

       It raises further concerns about job losses for its 8,000 employees, having lost 236 stores since 2018, going from 600 to just 364 today.

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       Last year 13,479 retail stores closed their doors forever on the high street, the equivalent of 37 per day, which is up 28 percent on 2023 according to The Centre for Retail Research.

       The upcoming National Insurance hike raises further fears about retailers being able to keep their doors open, as employers will have to increase payments from 13.8% to 15% from April 2025.

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