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Creditors approve Hotter CVA proposal

Creditors approve Hotter CVA proposal

Will Wright, comments on the Creditors approve Hotter CVA proposal.

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The creditors of Beaconsfield Footwear Limited have approved the proposed company voluntary arrangement (CVA) put forward by the business on 9 July 2020.

Will Wright, partner at KPMG and joint supervisor of the CVA commented: “The approval of the CVA is an important milestone in Hotter’s wider turnaround plan, enabling the business to move forward with a focus on its core online and direct order operations.”

The vote saw more than 99% of all voting creditors - and importantly, an overwhelming majority of landlords - choosing to approve the CVA, surpassing the 75% total required in order to pass the resolution.

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