Legal jobs: Clifford Chance and Slaughters advise on New Look IPO

Legal jobs at Clifford Chance and Slaughters May will gain from being lead advisors on New Look’s £650m Initial Public Offering (IPO).

According to Legal Week, the fashion retailer wants to return to the public market after they went private in 2004.

The retailer was taken private by founder Tom Singh and private equity firms Apax and Permira for £699m.

Corporate partners Martin Hattrell and Simon Nicholls will lead Slaughter and May’s team to advise the retailer.

Clifford Chance’s Adrian Carwright will be leading his team to advise Credit Suisse, Deutsche Bank and JP Morgan Cazenove. They will also advise Lazard & Co and co-managers.

Carl McPhail, New Look chief executive commented to The Telegraph that the company would like to continue growing since it has doubled in size during the years of private ownership.

“We’re still light on space compared to the likes of Primark and Next.

“There has been a fundamental structural change in the clothing market and value fashion is in the sweet spot.

“We’re 20pc to 30pc cheaper than the mid-market retailers and there’s no desire among consumers to move back to paying more.”

The IPO will drastically reduce New Look’s debts in order for them to boost growth plans and job creation.