Over 90% of creditors approved the plans at a meeting on Friday (4 October).
Thai Leisure Group operates operates 21 restaurants under brands including the Thaikhun casual dining chain and more high-end Chaophraya.
It says it will use the CVA to “address a number of underperforming sites” which have been “negatively impacted by the well-publicised issues undermining the restaurant sector”.
“The CVA ensures we can now focus on investing in our sites and brands thereby ensuring the long term success of the business,” says Ian Leigh, managing director of Thai Leisure Group.
Thai Leisure Group was founded in Leeds in 2005 and says on its website it is looking to become the ‘leading Thai restaurant operator in the UK’.
Retail restructuring firm RSM advised on the CVA.