• Clarks gets green light for CVA

    5 days ago - By Fashion United

    British footwear retailer Clarks has received the green light from creditors to go ahead with a company voluntary arrangement .
    The proposal was approved by 90 percent of the company's creditors.
    Earlier this month,Hong Kong-based private equity firm LionRock Capital agreed to acquire a 100 million pound majority stake in Clarks provided the retailer gets the green light for its CVA from creditors.
    The LionRock Capital investment is still subject to shareholder approval and the successful completion of a 28-day challenge period on the CVA.
    Philip de Klerk, interim chief financial officer...
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