The group behind Cotswold Outdoor, the British adventure clothing and equipment retailer, is moving forward with plans that will see four stores shut.
Creditors at Outdoor and Cycle Concepts (O&CC), which also owns Snow+Rock, Runners Need and Cycle Surgery, backed a company voluntary agreement yesterday that will shut branches in Peterborough, Ipswich, Highbury and Bridgend over the next three months. All had ceased to be profitable.
The agreement will also include applications for rent reductions across 50 of the company’s 120 stores and a move to paying on a monthly, rather than quarterly, basis.
