Welcome to the spring edition of our Restructuring & Insolvency bulletin
So far 2018 looks destined to become the year of the company voluntary arrangement (or “CVA” for short). Rarely used by companies during the previous decade, the CVA now appears to be the insolvency process of choice for those companies which operate in the retail or casual dining sectors from a large portfolio of leasehold premises. The first quarter of 2018 has already seen several CVAs, including those announced by restaurant chains Jamie’s Italian, Byron and Prezzo, as well as retailers such as New Look. And towards the end of March, Carpetright became the first publicly listed company since JJB Sports in 2012 to announce plans to close stores through its CVA. Against this backdrop, please see our final article written by Tim Carter and Lucy Walker below in which they explore more fully the growing use of CVAs.
Looking beyond the CVA, in this bulletin we have selected a number of recent articles written by our Restructuring & Insolvency specialists which highlight various recent developments in this space. You can access these articles by clicking on the links below. As always, do get in touch with us if you would like to discuss any points arising from these articles – we always welcome constructive feedback!
And finally, if you like what you read, why not take a look at our sister publication for our Banking & Finance clients. Click here to read more.
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David Steinberg
Tim Carter