Hotter Shoes set to be the latest high street victim of COVID-19
The devastation of the retail sector, caused by COVID-19, has claimed another company today, after British high street retailer Hotter Shoes announced that it intends to launch a company voluntary arrangement (CVA) and lower the number of stores it has from 61 to 15.
The CVA has announced following discussions with the individual landlords of the stores that will now close failed.
Neil Johnson, Chairman of Hotter Shoes’s private equity owner, Electra, said: “The need for these actions has been intensified by the consequences of the past three months of lockdown. If successful, the proposed CVA will result in fewer stores, which will secure the future of a smaller, sustainable business and will save over 350 jobs.”