Landlords to fight back against use of CVAs by retailers, chains
This is in response to a growing list of such proposals by companies.
Major property companies are preparing to oppose retailers, accused of railroading them into agreeing to rent cuts through a company voluntary arrangement (CVA).
A report by the Guardian mentions the CVAs sought this year by retailers such as department store chain House of Fraser, the children’s retailer Mothercare, the Carluccio’s Italian restaurant chain, Prezzo, Jamie’s Italian and others.
(Also read: Italian restaurant chain Carluccio's announces intention to enter landlord-only CVA)
Property companies Legal & General and Westfield are reportedly among about a dozen landlords planning to oppose the imminent CVA by House of Fraser.
(Photo credit: Carluccio's Facebook page)
