LEGAL | Staff Reporter, UK

Caffe Nero considering CVA to cut losses: report

The public health crisis continues to inflict pain on high street businesses.

Caffe Nero is the latest chain to consider an insolvency mechanism to restructure its financial liabilities amidst the coronavirus pandemic.

Sky News reported that the coffee shop operator is examining a company voluntary arrangement (CVA) as an option to reduce its rent bill and exit loss-making outlets.

The privately owned group has yet to make a final decision about a CVA, but sources of the news outlet say one is expected in the coming weeks.

Read the full report here.

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