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New Look owner buys back discounted debt

New Look co-owner Apax is buying up millions of pounds of discounted debt in the retailer.

The private equity firm, which owns the chain along with Permira, is understood to have been taking advantage of the weakness in the debt markets to buy back New Look’s payment-in-kind, according to The Sunday Telegraph.

The newspaper said that the move underlined the lack of opportunities for leveraged buyouts.

It added that Apax and Permira may look to revive plans to sell or float New Look, depending on funding potential.

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