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Aspinal of London expects to return to profitability thanks to CVA
Source: Mintel 20-04-2021

UK 20-04-2021

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Aspinal of London has announced that it expects to return to profitability following a successful Company Voluntary Arrangement (CVA) in October 2020 and its decision to move to an online and ecommerce-focused operation. The CVA enabled the company to close its loss-making stores and concessions with the exception of four, profitable, London locations.

The retailer’s revenues recovered in November and December 2020 following the CVA, rising 42% year-on-year, despite a difficult trading environment. Aspinal of London now expects £3.5 million in EBITDA for its financial year.