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Tie Rack creditors are set to receive less than 1% of nearly £115.7m owed following an agreement that will see the retailer’s three trading companies enter a Company Voluntary Arrangement (CVA).

Tie Rack opts for CVA but debt deal angers creditors

Tie Rack creditors are set to receive less than 1% of nearly £115.7m owed following an agreement that will see the retailer’s three trading companies enter a Company Voluntary Arrangement (CVA).