The shoe retailer has appointed Alvarez & Marsal to restructure the business, Sky News reported.

The CVA is not yet set in stone as the footwear retailer could explore other restructuring options. It has more than 160 stores worldwide in the UK, Ireland and Germany and concessions in Topshop stores in New York, Las Vegas and Chicago. It is unknown if the CVA will affect international operations.

If Office did decide to pursue a CVA, it would make the retailer the latest in a long line of high street retailers to explore the option.