Retail Human Resources plc
Blacks rescued from administration as creditors back CVA
24 November 2009 09:40
The creditors of Blacks Leisure have agreed to back a rescue plan. Blacks said 97% of its creditors, primarily its landlords, had accepted the Company Voluntary Agreement, safeguarding 4,300 jobs.
"The outcome is a powerful endorsement by the creditors of the company that the CVA is in the best interests of all concerned" said Blacks chief executive Neil Gillis.
"With this support secured, we can now focus on realising the potential of the group's market leadership position in outdoor retail once again".
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