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Creditors approve Spencer Hart CVA

Premium menswear retailer Spencer Hart’s company voluntary arrangement (CVA) has been approved by creditors in an attempt to safeguard its future, Drapers understands.

The CVA was completed by insolvency firm David Rubin & Partners on November 5, according to accounts filed at Companies House.

In the report, Spencer Hart’s directors said they were trying “to raise additional funding to support the company so it can meet its obligations”.

All creditors voted in favour of the resolution.

Drapers understands that Steve Pomfret, former Uniqlo UK chief executive, has been brought in to oversee the arrangement, although it is not clear in what capacity.

Spencer Hart, which incurred a pre-tax loss of £746,570 in the year to December 31, 2012, has two standalone stores in London and a concession in Selfridges. The company declined to comment.

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