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Tag : CVA

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  • Mothercare

    Mothercare collapse lays bare limits of CVA Subscription

    News4 November 2019

    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 birmingham

    Select back in the black Subscription

    News14 October 2019

    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 3by2

    Debenhams reveals Eastbourne store closure dateSubscription

    News9 October 2019

    Debenhams has announced it will close the doors to its Eastbourne branch by 24 January 2020, as part of its company voluntary arrangement. 

  • Debenhams august 2018 sw

    Debenhams secures new cash injectionSubscription

    News9 October 2019

    Department store chain Debenhams has received a £50m in financing from “certain of its existing lenders”. 

  • Monsoon Accessorize new store format

    British Land drops Monsoon Accessorize CVA challengeSubscription

    News26 September 2019

    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. 

  • 3084529 topshop

    Arcadia to 'separate' brands amid future sale rumoursSubscription

    News2 September 2019

    Sir Philip Green is reportedly splitting up Arcadia Group into separate brands in the hope of selling them “over time”.

  • 3085569 debenhamsandmikeashley

    Debenhams prepares for legal battleSubscription

    News2 September 2019

    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.

  • topshop

    US landlords withdraw Arcadia CVA legal challengeSubscription

    News27 August 2019

    Two US landlords, Vornado and Caruso, have withdrawn their legal challenges against Arcadia Group’s company voluntary arrangements. 

  • topshop

    Arcadia close to deal with US landlordsSubscription

    News19 August 2019

    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 ss19 (3)

    New Look: half a century in fast fashionSubscription

    Features5 August 2019

    50 years in business

  • Debenhamsandmikeashley

    Sports Direct drops Debenhams CVA challengeSubscription

    News23 July 2019

    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 birmingham

    Select creditors owed £53mSubscription

    News8 July 2019

    Fashion chain Select’s non-preferential creditors, including suppliers and landlords, are owed more than £53m, a report from administrator Quantuma has shown. 

  • Debenhams 3by2

    Debenhams CVA challenge withdrawnSubscription

    News8 July 2019

    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 new store format

    Monsoon Accessorize CVA vote resultSubscription

    News3 July 2019

    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. 

  • 4

    Topshop Beauty shifts focus Subscription

    News28 June 2019

    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.

  • ed cooke revo

    Comment: The use of CVAs needs greater scrutinySubscription

    Comment25 June 2019

    Company voluntary arrangements must be bound by stricter rules, says Ed Cooke, chief executive of commercial property body Revo.

  • barton square courtyard view

    Intu hit hardest by Monsoon CVASubscription

    News24 June 2019

    Ailing shopping centre owner Intu faces the biggest threat from Monsoon Accessorize’s company voluntary arrangement. 

  • topshop

    American landlords question Arcadia debtSubscription

    News24 June 2019

    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. 

  • Monsoon

    Landlords seek 30% equity in Monsoon Subscription

    News14 June 2019

    Landlords are seeking up to a 30% equity stake in Monsoon in return for backing any company voluntary arrangement (CVA) proposals, Drapers has learned.

  • Topshop topman york march 2018 shutterstock 1052904074

    Landlord face-off 'saved Arcadia jobs and pensions'Subscription

    News13 June 2019

    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.

  • topshopstrand

    Suppliers split on Arcadia strategySubscription

    News13 June 2019

    Although Arcadia Group suppliers agree that yesterday’s approval of its company voluntary arrangement (CVA) was a “fantastic” result, they are divided over whether product or property is the cause of the retailer’s woes.

  • Cafer Mahiroglu, Select owner

    Select CVA details revealed Subscription

    News13 June 2019

    Womenswear chain Select has outlined the details of its latest company voluntary arrangement (CVA), which was approved earlier this week. 

  • select birmingham

    Select CVA given green lightSubscription

    News11 June 2019

    Womenswear chain Select’s company voluntary arrangement (CVA) has been approved, securing 1,800 jobs. 

  • Monsoon

    Monsoon delays CVASubscription

    News7 June 2019

    The founder of womenswear retailer Monsoon Accessorize is understood to have delayed plans to launch a company voluntary arrangement (CVA).

  • Shop closing

    CVAs leave 850 empty shopsSubscription

    News6 June 2019

    More than 850 stores totalling 6 million sq ft of retail space has become vacant as a result of company voluntary arrangements (CVAs) in the past 18 months, new data from commercial property agency Colliers International has found.

  • Topshop strand

    Arcadia reveals stores to close under CVASubscription

    News22 May 2019

    Arcadia Group has proposed seven company voluntary arrangements (CVAs) across its companies, which if approved would result in 23 UK store closures and the closure of all eleven Topshop Topman stores in the US.

  • Evan in glasgow may 2019 from eric

    Landlords clash with Arcadia over restructuringSubscription

    News22 May 2019

    Landlords are dragging their heels over Arcadia Group’s restructuring and are calling for a “formal and transparent” company voluntary arrangement (CVA) proposal, industry sources have told Drapers.

  • Debenhams 3by2

    Colliers warns of Debenhams CVA impact on local authorities Subscription

    News13 May 2019

    Debenhams’ company voluntary arrangement (CVA) will heavily impact the public purse as “tightly stretched” local authorities across the UK will lose out on millions of pounds in business rates, real estate firm Colliers International has warned.

  • 3056110 topman topshop

    Landlords gear up to challenge expected Arcadia CVASubscription

    News3 May 2019

    Landlords are likely to set a precedent with a hardball approach to Arcadia’s expected company voluntary arrangement (CVA), as they grow increasingly frustrated with retail restructurings, property sources have told Drapers.

  • companies

    Company administrations reach five-year high Subscription

    News1 May 2019

    The number of companies going into administration at the start of 2019 climbed to the highest level in five years, new research has found. 

  • debenhams canterbury

    High street braced for surge of CVAsSubscription

    News30 April 2019

    High streets across the UK are preparing for a wave of store closures, as an onslaught of retail company voluntary arrangements (CVAs) looms.

  • Debenhams 20180820 102102

    Profits plummet at DebenhamsSubscription

    News26 April 2019

    Adjusted EBITDA at Debenhams dropped by 36.6% to £65.9m in the 26 weeks to 2 March, as a result of lower sales and a decline in gross margins. 

  • Debenhams 002

    Debenhams reveals stores to close under CVASubscription

    News26 April 2019

    Debenhams has proposed a company voluntary arrangement (CVA), which if approved would result in 22 store closures in early 2020.

  • Debenhams 20180820 102102

    What the Li & Fung partnership means for DebenhamsSubscription

    News18 February 2019

    The supply-chain tie-up with Chinese sourcing giant Li & Fung is a vote of confidence in the flagging retailer.

  • Debenhams 3by2

    Landlords brace for possibility of Debenhams CVA Subscription

    News5 February 2019

    Landlords are readying themselves for a possible company voluntary arrangement (CVA) from Debenhams as the department store continues talks with property owners. 

  • Debenhams Stevenage

    Debenhams inches closer to CVASubscription

    News4 February 2019

    Embattled department store Debenhams is reported to be moving closer to a company voluntary arrangement (CVA), as it holds talks with landlords and banks.

  • Year in review index

    Fashion retail's highs and lows of 2018Subscription

    Features14 December 2018

    As this year comes to a close and a new one approaches, Drapers recaps the twists and turns in the retail industry over the past 12 months

  • shuropody

    Exclusive: Shuropody files intention to appoint administratorsSubscription

    News16 November 2018

    Foot clinic and comfort footwear retailer Shuropody has filed a notice of intention to appoint administrators, Drapers can reveal.

  • New look spring 18 (5)

    New Look to withdraw from ChinaSubscription

    News18 October 2018

    Young fashion retailer New Look is to shut down its Chinese operations, including all 120 stores it operates across the country.

  • House of fraser cirencester

    KPMG owed £277k for House of Fraser CVASubscription

    News7 September 2018

    Accountancy firm KPMG has accrued losses of £277,533 after being paid just less than half the fees it was owed by House of Fraser for work on its company voluntary arrangement (CVA).

  • High street web shutterstock 378799936

    Retailers using CVAs to lower business ratesSubscription

    News30 July 2018

    Struggling retailers are turning to Company Voluntary Arrangements (CVAs) in order to lessen the strain of business rates.

  • rainy high street

    Retail hit hardest by big business job losses Subscription

    News2 July 2018

    Brexit, online competition and a slew of Company Voluntary Arrangements (CVAs) have been blamed for a 50,000 drop in jobs at Britain’s largest businesses in the last six months, with the retail industry hardest hit.

  • New look mens trafford centre

    New Look 'taking advantage' over CVA, claims landlordSubscription

    News18 June 2018

    New Look landlord Frogmore has warned that retailers are “taking advantage” of company voluntary arrangements (CVAs) to cut their rent bills.

  • house of fraser. oxford st

    Landlords weigh up legal case on House of Fraser CVASubscription

    News11 June 2018

    Property owners are considering legal action against department store House of Fraser as it seeks to close 31 of its 59 stores in a company voluntary arrangement (CVA).

  • hof

    House of Fraser CVA revealedSubscription

    News7 June 2018

    House of Fraser proposes to close 31 of its 59 stores, affecting 6,000 staff, in its company voluntary arrangement (CVA) filed yesterday.

  • house of fraser rushden

    House of Fraser CVA under threat as lenders demand new fundsSubscription

    News1 June 2018

    Lenders to the embattled department store House of Fraser are said to be demanding evidence that the retailer’s Chinese owner will invest fresh funding into the business.

  • rainy high street

    Retail insolvencies jump 7% year on yearSubscription

    News21 May 2018

    The number of retailers entering insolvency has increased by 7% in the past year, research by law firm RPC shows.

  • helen dickinson

    Comment: BRC chief calls on government to help high streetSubscription

    Comment17 May 2018

    Helen Dickinson, chief executive of the British Retail Consortium, tells Drapers how the government can ease the pressure on the high street. 

  • Mothercare

    Mothercare launches CVA as Newton-Jones returnsSubscription

    News17 May 2018

    Former Mothercare CEO Mark Newton-Jones is set to return to the retailer, as it announced the closure of 50 stores as part of a company voluntary arrangement (CVA).

  • Closing down Sales

    Industry calls on government to help the high streetSubscription

    News16 May 2018

    Retailers have reiterated calls for government intervention to help the high street amid concerns regional towns will be left reeling from a wave of store closures.

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