With the pressure on the industry showing no sign of abating, many more could follow suit, while others may be forced into full-blown liquidations. In this environment, it is important to understand why so many retailers are in financial distress at the moment, what the difference is between a Company Voluntary Arrangement (CVA) and a pre-pack administration, and when a Company Voluntary Arrangement might be preferred over the alternatives.
Listen above to Richard Fleming, European Head of Restructuring, give a summary on why the retail sector is struggling, why bricks and mortar in particular is under pressure, the advantages of a CVA, and what it takes for a CVA to be successful.
Richard Fleming is acknowledged in the restructuring industry as the market leading CVA expert, who has pioneered the implementation of CVAs in a number of high profile, distressed situations.
Richard and Mark have in excess of 50 years’ experience in restructuring and insolvency, and both occupied positions as UK Head of Restructuring in a Big 4 firm. They have each taken in excess of 300 individual insolvency appointments over the years, including high profile CVAs in the retail and leisure sectors. Most recently, Richard and Mark acted as as nominees to the Toys ‘R’ Us CVA process.
Restructuring, Turnaround and Insolvency
We collaborate with company management and serve in interim roles to stabilise financial and operational performance by developing and implementing comprehensive profitability and working capital plans. We also provide insolvency support for UK firms to help preserve value. Click here to navigate to our Restructuring, Turnaround and Insolvency web area.