July 29, 2020 / 6:11 AM / 6 days ago

BRIEF-Electra Private Equity says CVA Proposal for Hotter Shoes has been approved by creditors

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)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below