Jigsaw is to close a quarter of its stores following creditor approval of its CVA. This will impact 200+ jobs as stores in Westfield London and Bluewater, amongst others, are permanently shuttered.
The retailer will now look to landlords of the stores it is retaining to switch to turnover based rents.
KPMG partner, joint supervisor of the CVA, Will Wright commented: “The successful CVA proposal ensures that the business is well placed to trade in the current retail environment, and is an important step in the company’s wider review of its operations.”
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