The CVA proposal presented to creditors last month has met with approval from 99.5 per cent of parties. Assuming that there are no challenges, Hotter will press ahead with its plans.
Hotter CEO Ian Watson said: “I would like to thank my colleagues for their support and understanding through this process. Following the impact of Covid-19 the CVA was a regrettable but necessary step to avoid the likelihood of Hotter going into administration causing a much larger number of job losses, and was critical to ensure a viable future for the business.”
Hotter plans, in future, to place greater emphasis on its online and related direct to consumer channels.
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