A majority of more than 90 percent of Vivarte's 172 creditors have agreed in principle to a proposal to reschedule its debt and to support the French group's restructuring program. The new financing terms will be established following a four-month conciliation process. As previously reported, Charterhouse and other major shareholders of the group, which owns André, Minelli and many other shoe retail chains in France, had asked for a postponement of debt repayments due in March to June (see the last issue of Shoe Intelligence).

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