LONDON, July 06, 2020 (GLOBE NEWSWIRE) -- AllSaints (or “the Group”), the global contemporary fashion brand, today announces that its creditors have approved the CVAs of both All Saints Retail Limited (or “ASRL”) and its subsidiary AllSaints USA Limited (or “ASUSA”), with majorities significantly above the required threshold of 75% (93% for ASRL, and 90% for ASUSA).
Peter Wood, CEO of AllSaints, said:
“I would like to express my sincere gratitude to our teams, suppliers and other partners around the world for their overwhelming support during this process. We are also delighted that the majority of our landlords across the UK, EU, US and Canada voted in favour of our proposals, and would like to thank them for their patience and understanding. The decision to launch the CVAs was not taken lightly, and this successful outcome will be instrumental in helping us to ensure the long-term viability of AllSaints.”
Media contacts:
Powerscourt: AllSaints@powerscourt-group.com
Rob Greening / Sam Austrums
Notes to editors:
AllSaints is a global contemporary brand that is headquartered in East London and designs full collections of womenswear, menswear and accessories. AllSaints curates every aspect of the brand experience in-house, from store design and construction to the allsaints.com web platform. The brand has directly operated stores, concessions and outlets across the UK, Europe, North America and Asia. In addition, in recent years the brand has enjoyed success in developing non-retail activities around the world, including new wholesale business, licensing income and franchise partnerships. Founded in 1994, AllSaints has approximately 3000 employees across the world and has 255 directly operated stores, franchises, concessions and outlets across 26 countries.