LEGAL | Staff Reporter, UK

YO! Sushi considering CVA

It is working with Deloitte as it negotiates rent concessions with landlords.

YO! Sushi is now part of a list of restaurant chains considering insolvency mechanisms to reduce their financial liabilities amidst the coronavirus pandemic.

Sky News reported that the chain engaged accountancy firm Deloitte to explore the potential for a company voluntary arrangement (CVA) that may pave the way for rental costs to be reduced.

No formal decision to proceed with a CVA has been made, but Sky News was told that the company would “have little choice but to pursue one” without meaningful bilateral concessions from landlords.

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