All Saints CVA approved by creditors
Fashion retailer All Saints has confirmed that its creditors have approved CVAs for both for All Saints Retail and its subsidiary in the US after the company was forced to seek rent cuts due to the Covid-19 crisis.
The company said the majorities were significantly above the required threshold of 75%.
Peter Wood, chief executive of All Saints, said: “We are delighted that the majority of our landlords across the UK, EU, US and Canada voted in favour of our proposals, and would like to thank them for their patience and understanding. The decision to launch the CVAs was not taken lightly, and this successful outcome will be instrumental in helping us to ensure the long-term viability of All Saints.”
Founded in 1994, All Saints has 255 directly operated stores, franchises, concessions and outlets across 26 countries. The company has been owned by private equity firm Lion Capital since 2011.
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