Alpha Designs Upholstery reports that its proposal for a Company Voluntary Arrangement (CVA) was officially approved on Wednesday afternoon, which director Charlotte Floate says will enable the Bilston-based manufacturer to complete its financial reconstruction and secure its future trading, and halting a winding up petition brought by HM Revenue & Customs.
"We are extremely relieved and grateful that we have been granted this opportunity," says Charlotte. "The business has been through a very testing time and the support we have received has been phenomenal, and we really cannot thank everyone enough. We genuinely love our industry and are so proud to be part of a community that encourages and helps support each other in such a great way.
"We can now fully concentrate on the future and continuing to provide excellent products to superb retailers," she concludes.
The process will be supervised by restructuring specialist Begbies Traynor.
