July 29 (Reuters) - Electra Private Equity PLC:
* ELECTRA CONFIRMS THAT CVA PROPOSAL LAUNCHED ON 9 JULY FOR HOTTER SHOES HAS BEEN APPROVED BY 99.5% IN VALUE OF THOSE CREDITORS WHO VOTED, WITH A MAJORITY VOTE IN FAVOUR OF PROPOSALS FROM EACH CATEGORY OF CREDITOR
* HOTTER SHOES IS EXPECTED TO EMERGE FROM CVA PROCESS WITH ITS TARGETED SALES CHANNEL STRUCTURE IN PLACE AND ITS FIXED COST BASE SIGNIFICANTLY REDUCED
* TGI FRIDAYS NOW HAS 71 OF ITS 85 STORES FULLY OPEN WITH A FURTHER 9 BEING REOPENED WITHIN NEXT WEEK
* FRIDAYS HAS ACQUIRED TWO NEW SITES (COBHAM AND LINCOLN) AT ATTRACTIVE PRICES THAT WILL OPEN IN Q4 Source text for Eikon: Further company coverage: (Reporting By Pamela Barbaglia)
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.
Sign up for a free trial of our full service at https://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.