In a nutshell, New Look jumped the gun. The retailer came to court claiming insolvency and seeking the appointment of an examiner to its 27 Irish stores. The aim was to allow for a restructuring of its long-term leases. But faced with stern opposition from landlord creditors, it failed to convince the court on perhaps the most basic point. Does the fashion chain have financial woes? Yes. But insolvent? Nope. Not yet, was the answer. Now, the interim examinership has been set aside, meaning the company has no court protection from its creditors. Instead, a landmark High Court judgement has…

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