August 31, 2018 / 1:21 PM / in 22 days

Creditors approve British retailer Homebase restructuring plan

Aug 31 (Reuters) - Homebase creditors have approved a proposal to close 42 stores, putting 1,500 jobs at risk but giving the British home improvement retailer a lifeline from the brink of collapse, the company said on Friday.

Homebase said the so-called company voluntary arrangement (CVA) restructuring proposed this month was approved by 95.92 percent of the company’s creditors. (Reporting by Justin George Varghese in Bengaluru Editing by David Goodman)

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