WEYMOUTH-based fashion chain New Look faces another shake-up as it reportedly prepares for a company voluntary arrangement (CVA) with jobs likely to be at risk.

This would be its second CVA in as many years after landlords turned down a request to reduce rents.

Following a previous restructuring the chain managed to slash its losses and started to turn the business around.

The Times reports that New Look has now asked advisers to 'explore restructuring options' and 'negotiate with landlords' over its 500 stores.

It is reportedly considering a CVA to help push its demands to ensure its survival.

The company used the same scheme two years ago - a CVA allows a firm to reach agreement with its creditors over repayment of its debt over a set time.

It is said the lockdown which resulted in its stores closing has weakened New Look's finances.

Many of its stores, including Weymouth and Dorchester, have since reopened.