AllSaints to launch CVA: AllSaints is reportedly planning to launch a company voluntary arrangement (CVA) on Tuesday that will seek rent reductions across its UK and US operations, The Sunday Times has reported. Private equity owner Lion Capital has been examining options to support AllSaints since the outbreak of the coronavirus pandemic, and is said to have decided that a CVA is the most viable choice. Professional services firm Alvarez & Marsal (A&M) is expected to handle the restructuring process.
AllSaints declined to comment.
Matalan seeks £29m cash injection from HQ sale: Matalan is reportedly seeking a £29m cash injection through the sale of its headquarters, as it continues to find ways to navigate the coronavirus pandemic. The head office, located on an industrial estate near Liverpool, is being marketed at £28.5m, according to The Sunday Times. The deal is reported as being a sale and leaseback.
Matalan declined to comment.
Sloggi appoints new CEO: Paul Gautier has been reportedly appointed as the new CEO of Sloggi, succeeding Ludovic Manzon, who left in February, according to Fashion Network. Gautier most recently served as Sloggi’s regional general director for Northern Europe. He first joined the company in 2018, after working at Puma for more than 20 years.
Drapers has contacted Sloggi for comment.