JOBS are set to go in Troon after high street retailer, New Look, announced plans to close.

Last week, the business announced a proposal to reduce its UK store estate and rental costs, amid “challenging trading performance” and a “difficult retail environment”.

Under the proposals, Troon is the only store in Ayrshire set to close, along with 59 other stores across the UK, including the brand’s flagship store on Oxford Street. The Ayr and Saltcoats branches are currently safe under the plans.

The proposal also includes a reduction in rental costs and revised lease terms across 393 stores.

The move involves a requirement to make redundancies from the stores which have been identified for potential closure, which is expected to be around 980.

Alistair McGeorge, Executive Chairman of New Look, said: “Given our challenged trading performance and over-rented UK store estate, we are having to take tough but necessary actions to reduce our fixed cost base and restore long-term profitability.

“We have held constructive discussions with our key landlords and strategic partners and will now seek creditor approval on our Company Voluntary Arrangement (CVA) proposal. 

“A priority for us is to keep all potentially affected colleagues informed during this difficult time.”

Daniel Butters, Partner at Deloitte, added: “The retail trading environment in the UK remains extremely challenging, driven by weaker consumer confidence, the implications of Brexit and competition from online channels.

“The CVA will provide a stable platform upon which Management’s turnaround plan can be delivered. 

“We have fully engaged with the British Property Federation and its members and their views are reflected in what we believe is a fair proposal to restructure the property obligations of the company.

“It is important to stress that no stores will close on day one, and employees, suppliers and business rates will continue to be paid on time and in full.”