Robert Goddard CVA approved

The upmarket retailer, which operates 10 locations, said there will be no store closures as a result of the CVA and the 100 staff at the business will be unaffected.

More than 90% of all voting creditors, including landlords, approved the move.

Drapers understands that the CVA lasts five years and involves rent reductions for less than half of its store portfolio. However, further details of the CVA proposal have not been revealed.

Robert Goddard dates back to 1895, when businessman George Goddard opened an eponymous menswear store in King’s Lynn, Norfolk. His grandson Robert Goddard took over the business in 1984 and assigned his name to the shop in Wisbech, Cambridgeshire.

In 2008, Oliver Tookman acquired the business and has grown Robert Goddard’s store network from two to 10. The retailer now stocks nearly 50 premium men’s, women’s and children’s wear brands, including Ralph Lauren, Hugo Boss and Armani.

Tookman, owner and managing director, said: "We are pleased that all our suppliers and landlords supported us through the process and we look forward to a successful future. All 10 stores remain open and will continue to trade as normal.

"We proposed a CVA to ensure the ongoing viability and success of the business and we look forward to putting this behind us and moving forward positively."