Redundancies loom as Hotter submits CVA proposal

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Hotter Shoes CVA Ian Watson
Creditors will need to vote on the proposal by July 28 and a virtual shareholders meeting will take place on July 29
// Hotter submits CVA proposals to creditors
// The footwear retailer aims to avoid going into administration
// The CVA aims to seek approval for the closure of 46 stores

Hotter Shoes has reportedly submitted its CVA proposal to creditors and shareholders in an effort to seek approval for the closure of 46 stores.

The footwear retailer has said it is necessary “to avoid the likelihood of Hotter going into administration” following the high street’s recent collapses triggered by the Covid-19 pandemic, Drapers reported.

If the proposals were to go ahead, Hotter’s store portfolio would be reduced from 61 to 15 stores.


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It will also result in the change of terms of rental payments on the remaining sites.

The CVA will result in “a number” of redundancies, but it will save 350 jobs.

Creditors will need to vote on the proposal by July 28 and a virtual shareholders meeting will take place on July 29.

If approved, the expected completion date is March 1, 2021.

“The challenges we are facing as a result of the pandemic mean that these steps are necessary to ensure the long-term success, and indeed survival, of the business,” Hotter chief executive Ian Watson said.

“The proposed CVA will enable us to continue with our strategy and will prevent further store closures and job losses in the long term,” he said.

Watson joined as chief executive in March last year, while Claire Peal joined from Hobbs as chief product officer in October.

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8 COMMENTS

  1. It’s a big shame as my mother loves Hotter shoes so really hope the Canterbury store does not go.

    Retail is facing such bleak times now. Huge worry for retail and it’s staff as no one is going back to the shops.

  2. Current owners run it into the ground. I used to work for Hotter in Uxbridge. It used to be a great place to work, I had to leave when I moved but I’m sorry it is in this current situation.

  3. Love n used hotter since arrival to UK to wrk as a nurse. My favourite shoes n so comfortable…would be at a loss if they close many city outlets..pray you will survive. In this harsh hard times…

  4. Another nail in the coffin for UK high streets. Vert upsetting to see a quality retailer go into administration. I feel very sorry for all the starf, who were all very well trained & friendly!!

  5. The only stores that are staying are the ones already open now (as of July 2020), 15 stores that’s it… The rest are history, staff made redundant etc etc those stores that have been retained are obviously being used to cleanse the stockholding through, once that stock is gone then they will more than likely be closed as well… Hotter will then be an online only retailer that’s if it survives at all…. my best wishes to the store teams you’ve had a rough ride of it that’s for sure

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