- Impact of retail company voluntary arrangements on rental levels
- To what extent have companies been able to negotiate consensual rent reductions outside of a CVA?
- What other methods are companies using to avoid onerous rental levels (eg, a switch to turnover based rent)?
- Do you think this will result in fewer retail CVAs?
- Do you expect further challenges by landlords to CVAs in light of the recent Debenhams case (eg, where the CVA seeks to reduce rent below market value)?
- Are you seeing any other trends impacting retail restructurings?
Restructuring & Insolvency analysis: According to Devinder Singh, partner at Squire Patton Boggs, with the retail market still struggling, company voluntary agreements (CVAs) will remain a valuable restructuring tool.
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