THE RETAIL BULLETIN - The home of retail news
20 years serving the retail industry
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
Retail HR 2022
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Hotter Shoes to restructure via CVA

The owner of Hotter Shoes has announced that the footwear retailer is to restructure through a company voluntary arrangement process. In a statement, Electra Private Equity… View Article

FASHION

Hotter Shoes to restructure via CVA

The owner of Hotter Shoes has announced that the footwear retailer is to restructure through a company voluntary arrangement process.

In a statement, Electra Private Equity said Hotter’s management has been in discussions with some of the retailer’s landlords about reducing its number of stores to enable it to remain a viable business following the Covid-19 crisis.

As the discussions have been unsuccessful, the retailer will be entering into a CVA process in the coming days that will leave the business with a portfolio of 15 shops.

Hotter has also entered into formal consultations with a number of employees at its Skelmersdale head office that could lead to some staff being made redundant.

Neil Johnson, Electra Private Equity chairman, said: “Before the pandemic hit, Hotter, under new chief executive Ian Watson, was making good progress to accelerate the implementation of a digitisation strategy to return it to its direct marketing routes. The need for these actions has been intensified by the consequences of the past 3 months of lockdown.

“If successful, the proposed CVA will result in fewer stores, which will secure the future of a smaller, sustainable business and will save over 350 jobs. I would like to thank all our colleagues at Hotter for their continued understanding at this difficult time.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

THE NEXT EVENT

See all upcoming events

LATEST VIDEO

UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON
UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON

Watch video >