Apr 7, 2009
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Sixty UK saved from bankruptcy

Apr 7, 2009

Taken into receivership in October, Sixty UK has been saved. According to Drapers, the group which owns the Miss Sixty and Energie labels and its stores in the UK have been secured thanks to a Company Voluntary Arrangement (CVA) – a legal procedure which allows a company respite from creditors and share-holders and to reorganise its debt and credit.

Miss Sixty

This procedure, which should come to an end in May, will save two hundred and fifty jobs at Sixty UK though its wholesale division will not be affected. However, after the closure of a store in Manchester, a branch in Liverpool could also be closing its doors soon.

Sixty UK, which manages a dozen stores across Great Britain, is also the first off-the-peg clothing business in the UK to benefit from a CVA since the start of the recession.

By Jonathan Fulwell (Source: Sarah Ahssen)

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