New Look is understood to be in the process of taking over five stores being disposed of by Borders UK, including the book chain’s flagship store on London’s Oxford Street.
If New Look takes on the 39,000 sq ft store on Oxford Street, it would be its second on London’s landmark shopping street and would effectively replace the store it had on the south side of the street, which burnt down in 2007.
The Borders site is a stone throw from Topshop’s Oxford Circus flagship.
New Look’s other flagship store is at the Marble Arch end of the street, opposite Primark.
A spokeswoman for Borders UK confirmed to The Daily Telegraph newspaper that the book chain had agreed to sell the leasehold interest on five of its stores to a major fashion retailer.
The four other stores are in Dublin, Swindon, Llantrisant in Glamorgan in Wales and London Colney in Hertfordshire.
New Look posted record results for the year to March 28, with sales up 14.9% to £1.32 billion. EBITDA rose 10.2% to £217.6m. Like-for-like sales in the UK and Republic of Ireland were up 1.4% over the year.