Tag : CVA
Will the high street suffer a CVA domino effect?Subscription
Following company voluntary arrangements from New Look and Select, and rumours that Mothercare will be next, Drapers asks whether there will be a ripple effect on the high street.
Select CVA vote outcome revealedSubscription
Select’s company voluntary arrangement (CVA) has been approved by its creditors, resulting in rent cuts of up to 75% for its landlords.
Mothercare mulls store closures Subscription
Ailing retailer Mothercare is said to be considering store closures and seeking rent reductions as it battles challenging trading conditions.
Soaring administration costs dragged troubled fashion retailer Blue Inc to a £2.6m loss despite the firm almost doubling revenues to £50m, its latest figures reveal.
Select parent files for CVASubscription
Genus UK, which owns fashion chain Select, has appointed business advisory firm Quantuma to advise on proposals for a company voluntary arrangement (CVA).
Property industry insiders have questioned how effective New Look’s company voluntary arrangement will be at turning the business around, as some raised concerns over the retailer’s debt.
New Look CVA secures 98% creditor approvalSubscription
New Look’s company voluntary arrangement (CVA) has been given the green light by 98% of its creditors and landlords, resulting in 60 store closes and nearly 1,000 job cuts.
New Look’s proposal to close up to 60 UK stores through a company voluntary arrangement is “long awaited”, but does not go far enough to cut costs at the struggling retailer, industry experts have said.
New Look landlords braced for closures Subscription
New Look has reportedly written to landlords to say its finance director Richard Collyer would be seeking meetings to discuss possible store closures and rent reductions.
Store Twenty One struggling to meet rent termsSubscription
Value fashion retailer Store Twenty One is in talks with its lenders as it is struggling to meet rent payments.