All Insolvency & administration articles – Page 11
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Opinion‘Landmark CVA vote must usher in a New Look for retail rents’
One line stood out in New Look chief executive Nigel Oddy’s statement this afternoon after creditors rubber-stamped its controversial company voluntary arrangement (CVA).
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NewsNew Look CVA gets green light from landlords saving over 11,000 jobs
New Look has had its company voluntary arrangement (CVA) seeking to move over 400 of its stores on to turnover-based rents approved by creditors, saving over 11,000 jobs.
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NewsNew Look future hangs in balance as property giants reject CVA
Two of New Look’s biggest landlords are poised to vote against its crunch CVA today in a move that will throw the fashion retailer’s survival into doubt.
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Opinion‘If landlords reject New Look CVA, they’ll be next in line for administration’
A lot of people have had to swallow bitter pills to help safeguard the future of New Look. Now one final group, landlords, is being asked to share the harsh medicine.
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NewsNew Look requires backing of half of large landlords to pass CVA
Embattled fashion retailer New Look will need to convince at least 10 of its 20 largest landlord creditors to support its CVA or risk “Armageddon”.
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NewsNew Look landlords accuse retailer of inconsistency as CVA teeters
New Look is facing an uphill battle in convincing landlords to vote in favour of its CVA, with many store owners growing increasingly disgruntled about the retailer’s perceived lack of transparency in negotiations.
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NewsMoss Bros drafts in advisers as it mulls possible CVA
Struggling menswear retailer Moss Bros has drafted in KPMG as it considers closing stores and slashing jobs in a bid to ride out the pandemic.
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OpinionThe Secret Retailer: ‘Financial cliff edge looms without rent standstill deal’
We have to secure an extension to the moratorium on landlords taking action against retailers that do not pay rent.
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NewsNew Look ‘very confident’ of winning CVA support but landlord body hits out
New Look chief executive Nigel Oddy is “very confident” landlords will back the fashion retailer’s proposed CVA – its second in two years.
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NewsNew Look launches CVA following new financing
Under-pressure fashion retailer New Look has unveiled CVA proposals after conducting a £440m debt-for-equity swap and with lender backing.
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NewsDebenhams parent company Celine teeters on brink
Debenhams’ parent company has drafted in advisers as it prepares to enter administration, just months after the department store chain collapsed for the second time in a year.
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NewsMothercare finalises its franchise deal with Boots
Struggling retailer Mothercare has announced a franchise deal with Boots that will see its current range of products extended in the health and beauty retailer’s stores.
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AnalysisThe Big Question: Should there be a cap on CVAs for retailers?
As the coronavirus continues to hammer sales and customer footfall levels show no signs of returning to pre-Covid levels any time soon, more struggling retailers are turning to insolvency procedures such as CVAs to survive. However, with many brands having a second or third bite of the cherry, industry experts debate whether a cap should be put in place
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NewsNew Look launches CVA and recapitalisation
Embattled fashion retailer New Look has launched a company voluntary arrangement (CVA) in a bid to “rebase” its existing leasing portfolio.
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NewsJigsaw to launch CVA as coronavirus hits sales
Fashion brand Jigsaw is reportedly planning to launch a CVA next week, becoming the latest high street casualty of the coronavirus crisis.
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NewsM&Co restructuring saves 2,200 jobs and 218 stores
Fashion retailer M&Co has completed a pre-pack administration deal, which saw it bought back by its Scottish owners the McGeoch family.
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NewsRiver Island mulls CVA as coronavirus hammers sales
River Island is the latest fashion retailer to consider undertaking a company voluntary arrangement due to the effects of the coronavirus on sales and store footfall.
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NewsM&Co to close 50 stores in pre-pack administration deal
M&Co is reportedly nearing a pre-pack administration deal which would see the chain sold back to its original owners.
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NewsDW Sports blames coronavirus closures for collapse into administration
Sportswear retailer and gym operator DW Sports has collapsed into administration putting some 1,700 jobs at risk across its estate.
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AnalysisBack from the brink – what’s next for retail’s Covid casualties?
The past few months have had a devastating impact on UK retail and swathes of chains have collapsed, but there is light at the end of the tunnel for some of these businesses. Retail Week takes a look at what the future holds for retail’s Covid casualties.