UK high street landlords are set to do battle with retailers who they claim are using company voluntary arrangements (CVAs) to exit costly or difficult leases and save money. The tension comes as House of Fraser and Mothercare's have decided to seek CVAs, following retailers Carpetright and New Look, as well as restaurant chains post-CVA's Italian and Prezzo. Revo, an organisation representing local authorities, landlords and commercial property investors has written to a government select committee. Calling for an investigation into what it claimed were abuses of the CVA system by retailers.
UK high street landlords are set to do battle with retailers who they claim are using company voluntary arrangements (CVAs) to exit costly or difficult leases and save money. The tension comes as House of Fraser and Mothercare's have decided to seek CVAs, following retailers Carpetright and New Look, as well as restaurant chains Jamie's Italian and Prezzo. Revo, an organisation representing local authorities, landlords and commercial property investors has written to a government select committee. Calling for an investigation into what it claimed were abuses of the CVA system by retailers.