Creditors approve CVA that entails 42 branch closures and landlords taking 90% rent cuts
Homebase is to cut 1,500 jobs as part of a rescue deal that will save the DIY chain from bankruptcy and give it breathing space to recover from the disastrous stewardship of its previous owners.
Creditors voted in favour of a company voluntary arrangement (CVA), that will lead to the closure of 42 out of 241 branches, with landlords of a further 70 stores agreeing to accept rent cuts of up to 90%.
Continue reading...from Mergers and acquisitions | The Guardian https://ift.tt/2N4NO1D
No comments:
Post a Comment