Viva would not outright own Clarks, but is paying 69.7 Million dollars to acquire 51% of LionRock Capital Partners which does, and so would be an indirect majority owner. LionRock were responsible for keeping all 320 stores open after taking over the footwear retailer in December, with 60 of its stores paying no rent under new agreement and rent being sales-based at the remaining 260.
LionRock is presently in the process of completing its 100-million-pound investment to recapitalize Clarks as part of its rescue of the ailing brand. Clarks said that the cash infusion would position the business for future long-term sustainable growth.
