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Creditors approve Paperchase CVA proposal

Creditors approve Paperchase CVA proposal

The creditors of stationery retailer Paperchase Products Limited have today approved its proposed company voluntary arrangement (CVA).

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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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