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Jamie’s Italian creditors agree terms of CVA

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Jamie’s Italian creditors agree terms of CVA

Jamie’s Italian UK’s creditors have agreed the terms of a Company Voluntary Arrangement (CVA) restructuring plan.

In a statement the restaurant group said: “We are pleased to have received the overwhelming support from our creditors for our proposal to reshape Jamie’s Italian restaurants. We have a strong brand and are focused on continuing to deliver the levels of service, taste and the experience our loyal customers deserve.

“We are working hard to ensure that our estate is fit for the current trading environment and we feel confident that this newly shaped business will provide strong opportunities for growth and profitability.”

The restructure follows the announcement of the closures of 12 Jamie’s Italian sites. The group has said no further closures are planned.

Alix Partners oversaw the CVA, which will not affect international sites.

Jamie’s Italian UK has previously said it will “look to redeploy as many staff as possible within the wider restaurant group” and all staff will be paid fully.

Jamie’s Italian confirms it is undergoing CVA>>

Jamie’s Italian to close 12 UK sites>>

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