New Restructuring Plan Is One To Watch For Retail Landlords28 Oct 2021 // In the press
Partner Ben Klinger and Solicitor Mark Allan appear in Property Week discussing CVAs and their potential impacts on retail landlords.
“CVAs can have a profound impact on landlords through the reduction of future rent and other contingent liabilities under a lease. This is typical of underperforming stores, with performing stores subject to minor reductions and underperforming stores facing considerable rent reductions. Retailers often use CVAs to close poor-performing stores.
Many landlords say retailers’ use of CVAs to increase profits by reducing rents and closing stores is unfairly prejudicial, with landlords’ finances hit heavily.”