Menu

New Look plans CVA requesting up to 60% reduction in rent

0 Comment

New Look has announced plans to slash 60 per cent of its rent bills while offloading loss-making stores as it struggles to stay afloat. Earlier this week it was revealed that the retailer’s finance director Richard Collyer wrote to landlords to seek meetings to discuss possible store closures and rent reductions. This has now been confirmed, and the embattled retailer is understood to be seeking a company voluntary agreement (CVA) which could enable it to shutter underperforming stores and negotiate rent reductions on the remaining stores

Visit link:
New Look plans CVA requesting up to 60% reduction in rent

Tags: , , , , , , , , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

loading...