Ambitious young fashion retailer New Look has snapped up five stores from bookseller Borders, The Independent has reported.
The move will see New Look take on a second Oxford Street outlet, as Borders' flagship presence is part of the deal. The other stores are in Llantrisant, London Colney, Dublin and Swindon.
Borders confirmed earlier today that it was selling the five outlets following the appointment of Clearwater Corporate Finance last month to find new investment.
New Look is currently bucking the downward trend on the High Street. For the year ending March 28th 2009, total sales were £1.32 billion, up 14.9 per cent.