Published on 11 November 2010 by Tony Groom In April 2009 the retailer JJB successfully proposed a CVA designed to save 250 stores and 12,000 jobs. It has become the model for subsequent CVAs in the retail sector. The proposal included closing 140 unprofitable stores but made available a fund of £10m for the landlord […]
Articles Tagged: Distraint
A Business in Difficulty Can Terminate its Property Leases and be Fair to Landlords
In April 2009 the retailer JJB successfully proposed a CVA designed to save 250 stores and 12,000 jobs. It has become the model for subsequent CVAs in the retail sector. The proposal included closing 140 unprofitable stores but made available a fund of £10m for the landlord creditors of these premises, equating to a payment […]