Tag : CVA
Mothercare collapse lays bare limits of CVA Subscription
Mothercare’s decision to appoint administrators to its UK operation has “come as no surprise”, as it has been unable to restructure the business fast enough to cope with changing retail trends, industry experts have told Drapers.
Select back in the black Subscription
Operating profit at womenswear chain Select was £2m in the year to 2 December 2018, compared to a loss of £15.5m in the 18 months to 2 December 2017.
Debenhams reveals Eastbourne store closure dateSubscription
Debenhams has announced it will close the doors to its Eastbourne branch by 24 January 2020, as part of its company voluntary arrangement.
Debenhams secures new cash injectionSubscription
Department store chain Debenhams has received a £50m in financing from “certain of its existing lenders”.
British Land has agreed to withdraw its legal challenge to Monsoon Accessorize’s company voluntary arrangement, paving the way for rent reductions of up to 65% across more than half of the retailer’s stores.
Sir Philip Green is reportedly splitting up Arcadia Group into separate brands in the hope of selling them “over time”.
Debenhams prepares for legal battleSubscription
Debenhams has reportedly lined up professional services firm Deloitte over fears that it may lose its legal battle relating to its restructuring plan, which launches today.
Two US landlords, Vornado and Caruso, have withdrawn their legal challenges against Arcadia Group’s company voluntary arrangements.
Arcadia close to deal with US landlordsSubscription
Sir Philip Green is reported to be close to a resolution of the legal challenges brought against his Arcadia Group’s company voluntary arrangement by two US landlords.
New Look: half a century in fast fashionSubscription
50 years in business
Sports Direct drops Debenhams CVA challengeSubscription
Sports Direct has dropped its challenge against Debenhams’ company voluntary arrangement, but will continue to fund that of property agent Combined Property Control Group (CPC).
Select creditors owed £53mSubscription
Fashion chain Select’s non-preferential creditors, including suppliers and landlords, are owed more than £53m, a report from administrator Quantuma has shown.
Debenhams CVA challenge withdrawnSubscription
Property investment company M&G Real Estate has withdrawn its legal challenge to Debenhams’ company voluntary arrangement, which was approved by creditors in May.
Monsoon Accessorize CVA vote resultSubscription
Monsoon Accessorize creditors have approved the retailer’s company voluntary arrangement, which asks for rent reductions of up to 65% across more than half of its stores.
Topshop Beauty shifts focus Subscription
Topshop has had a change in direction for its beauty range, as it moves away from retail and begins to wholesale its products with etailers Very and Zalando, Drapers understands.
Comment: The use of CVAs needs greater scrutinySubscription
Company voluntary arrangements must be bound by stricter rules, says Ed Cooke, chief executive of commercial property body Revo.
Intu hit hardest by Monsoon CVASubscription
Ailing shopping centre owner Intu faces the biggest threat from Monsoon Accessorize’s company voluntary arrangement.
American landlords question Arcadia debtSubscription
American landlords have questioned why Arcadia Group’s debts to certain suppliers fluctuated at the time of the second vote on the group’s company voluntary arrangement, potentially lessening landlords’ power to block it.
Landlords seek 30% equity in Monsoon Subscription
Landlords are seeking up to a 30% equity stake in Monsoon in return for backing any company voluntary arrangement (CVA) proposals, Drapers has learned.
The tough stance taken by some Arcadia Group landlords forced owner Sir Philip Green to invest more in the business to ensure the controversial company voluntary arrangement (CVA) passed, industry experts have claimed.