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The British leather goods brand is reported to have proposed a company voluntary arrangement (CVA).
Aspinal of London is reported to have launched a CVA proposal. Exact details of the proposal are not yet clear, although CVAs often entail store closures, rent negotiations and/or job cuts. The brand has ten stores across the UK as well as an online store, and employs more than 300 workers.
Earlier this year, the British brand was allegedly working on a financing plan which could lead to a possible sale. Read more here.
Sources: Retail Week/Retail Gazette