The creditors of stationery retailer Paperchase Products Limited have today approved its proposed company voluntary arrangement (CVA).
Will Wright, restructuring partner at KPMG and joint supervisor of the CVA, said:
“The engagement and buy-in of all stakeholders throughout this process has been vitally important in putting together an innovative CVA proposal which, following today’s approval, will allow Paperchase to move forward with a financial and operational restructuring plans.
“Today’s vote saw a majority of all voting creditors choosing to approve the CVA, surpassing the 75% total required in order to pass the resolution.”
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