Blacks Leisure completes CVA and can concentrate on turnaround
The company required 75 per cent of creditors to vote for the CVA proposal and it easily surpassed this requirement with 98 per cent supporting the move.
With the business now on a firmer footing it will be possible for management to continue with its turnaround plan that is headed up by chief executive Neil Gillis.
The key objective is to turn around the core outdoor division, which will now be much easier following the offloading of a loss-making subsidiary and batch of loss-making outlets.
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