DLA Piper is acting for Gavin Maher and Daniel Butters as joint nominees and supervisors of a company voluntary arrangement (CVA) proposed by C&J Clark International Limited (t/a Clarks Shoes).
The 195 year old British shoe retailer operates 320 retail stores in the UK and Ireland, employing thousands of people. The CVA, which was approved by more than 90% of Clarks’ creditors on 20 November 2020, forms part of a wider rescue package and is a significant step towards securing GBP100m of new investment from Hong Kong investor, LionRock, as Clarks focuses on transforming its business and safeguarding its future in the wake of the COVID-19 pandemic.
The DLA Piper UK-based Restructuring team is being led by partner James Davison with support from legal director Rowan Aspinwall and associates Jade Delaney and Chloe Ball.
