Cotswold Outdoor owner Outdoor & Cycle Concepts has won approval for its CVA by a majority of over 97% of creditors.
As part of the restructuring, four stores will close over the next three months: Cotswold Outdoor in Peterborough and Ipswich, Cycle Surgery, Highbury and Snow+Rock, Bridgend.
Outdoor & Cycle Concepts (O&CC) will also apply for rent reductions across 50 of its 120 stores and move to paying rent on a monthly basis rather than quarterly as part of the agreement.
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