Home Legal Advice DLA Piper advises on British shoe retailer Clarks’ CVA

DLA Piper advises on British shoe retailer Clarks’ CVA

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DLA Piper is appearing for Gavin Maher and Daniel Butters as joint nominees and supervisors of an organization voluntary association (CVA) proposed by C&J Clark International Limited (t/a Clarks Shoes).

The 195 12 months outdated British shoe retailer operates 320 retail shops within the UK and Ireland, using hundreds of individuals. The CVA, which was permitted by greater than 90% of Clarks’ people that are owed money on 20 November 2020, kinds a part of a wider rescue package deal and is a big step in direction of securing GBP100m of recent funding from Hong Kong investor, LionRock, as Clarks focuses on remodeling its enterprise and safeguarding its future within the wake of the COVID-19 pandemic.

The DLA Piper UK-based Restructuring staff is being led by associate James Davison with assist from authorized director Rowan Aspinwall and associates Jade Delaney and Chloe Ball.

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