Future of Luton's Clarks Outlet store could be in doubt after closure announcement
The business could turn to a CVA to shut shops in order to secure cash
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 Outlet store in The Mall Luton.