The operator of Giraffe and Ed’s Easy Diner has been given the green light for store closures today, as creditors voted through a major restructuring plan that puts hundreds of jobs at risk.

Giraffe Concepts Limited, which gained the 75 per cent approval it needed from creditors in a vote this afternoon, is now set to enter a company voluntary arrangement (CVA) which will see a third of its 87 restaurants close.

The controversial insolvency process, which is being overseen by accountancy firm KPMG, was "the only option to protect the company", according to Tom Crowley, the chief executive of owner Boparan Restaurant Group (BRG).

The news comes just weeks after beleaguered retailer Paperchase launched its own CVA, which typically involves cutting costs by reducing rents or closing outlets.

Closures of Giraffe and Ed’s Easy Diner restaurants are expected to come across the UK, with outlets in Holland Park and Manchester’s Trafford Centre among those which face being shut down.

Such measures come three years after BRG snapped up both Giraffe and Ed’s Easy Diner for roughly £23m in two seperate deals.

Will Wright, restructuring partner at KPMG and joint supervisor of the CVA, said: "This is a critical step forward for the business, allowing Giraffe Concepts to complete its financial restructuring plan and embark on a comprehensive operational transformation programme."

Paul Berkovi, director at KPMG, added: "Today’s vote saw a significant majority of all voting creditors choosing to approve the CVA, surpassing the 75 per cent total required in order to pass the resolution."

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