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FROM PUI-GUAN MAN | DRAPERSONLINE | http://bit.ly/2CxYHzN

#Vulture fund #Alchemy #Partners eyes #New #Look

Vulture fund Alchemy Partners is reportedly among those mulling opportunities to buy into bonds at troubled retailer New Look. Alchemy Partners is already familiar with New Look, having traded in and out of its bonds in 2013, The Sunday Times reported yesterday.

It was previously reported that several hedge funds and vulture funds were considering approaches to taking control of the chain by buying up its debt.

Some of its bonds traded at under 20p in the pound last week. The value of one tranche has dropped by around 75% during the past year.