Creditors of leisure group Blacks have approved a CVA approval.
CVA supervisor Richard Fleming of KPMG said the agreement was a “pivotal”
moment for the business.
“Without the approval of the CVA, the company faced administration, putting
4,300 jobs and 291 trading stores at risk,” said Fleming.
As part of the CVA, the landlords of the unoccupied stores will receive a
total compensation of £7.25m, which equates to approximately 6 months rent each.
The company will also continue to pay rates until the leases are surrendered
or forfeited in consultation with landlords
Mark McMullen joins the private client services team from Smith & Williamson
Three new partners and seven business restructuring advisers have been appointed to the new Preston office
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks