Future of Hemel's Clarks store could be in doubt after closure announcement
The business could turn to a CVA to shut shops in order to secure cash
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Clarks, one of Britain's oldest shoe retailers, is preparing for dozens of permanent store closures, it has been revealed.
According to Sky News, a rescue deal for Clarks led by LionRock Capital is dependent on approval by creditors of a company voluntary arrangement (CVA).
The CVA could involve as many as 50 shop closures and a switch to a turnover rent model.
There is a Clarks store in the Riverside Shopping Centre in Hemel Hempstead.