Aspinal of London launches CVA proposal

Aspinal of London has launched a CVA proposal. The British retailer operates as an e-commerce business alongside ten stores in the UK across city centres, and also trades from concessions in department stores: Harrods and Selfridges.

For the CVA to go ahead, the proposal needs approval from 75 percent of the Aspinal of London’s creditors.

The British retailer has put forward Will Wright from KPMG as the proposed nominee for the CVA, Wright said in a statement: “Covid-19 has presented a number of challenges for those operating in retail and the luxury goods sector, not least the impact of reduced footfall across high street stores.

“If approved, the CVA proposal provides Aspinal with a platform from which it can refocus its business on its core online and premium concessions channels, providing a solid and sustainable grounding for the future,” according to the KPMG website.

Photo credit: Aspinal of London