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New Look drops £12m pay scheme

New Look bosses and directors will miss out on a provisional £12m bonus scheme.

The share scheme was first drawn up in 2015 and the first payments were due to be paid in September. However, the shares have been left worthless after New Look’s South African owner Brait cut the value to zero.

Last week, it was announced that New Look’s UK and Republic of Ireland (ROI) managing director Danny Barrasso is leaving the company amid wider changes.

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