London-based cocktail bar and restaurant group Drake & Morgan’s creditors have approved a company voluntary arrangement (CVA) – with 90% voting in favour of proposals.
The Bowmark capital-backed group, a business operating 22 venues across London, Manchester and Edinburgh, announced the proposal – which will result in the closure of the Allegory and the Listing, in London as well as the Refinery in Spinningfields, Manchester – last month (May).
The firm said all team members in affected sites would be offered alternative roles within the business.
“We wish to thank our landlords, suppliers, business partners and other creditors for their support,” Jillian MacLean, founder and CEO of Drake & Morgan said.
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