Mark Cotter, CEO of Baird Group comments of CVA proposal.
The creditors of BMB Clothing Limited (trading as ‘Baird Group’) have approved the proposed company voluntary arrangement (CVA) put forward by the business on 23 July 2020.
Mark Cotter, CEO of Baird Group, said: “The support of the CVA from our creditors is a critical step in our wider turnaround plan, enabling us to lay the foundations for a successful future with a renewed focus on our core online channels and outlet stores.”
Howard Smith, associate partner at KPMG and joint nominee of the CVA, added: “The vote saw approximately 94% of all voting creditors choosing to approve the CVA, surpassing the 75% total required in order to pass the resolution.”
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