2 Dec 2016
Policy area: Town centre & Retail
The body representing commercial landlords has agreed a way forward with RSM, the insolvency practioners over the CVA for troubled coffee chain Love Coffee.
The British Property Federation had previously criticised aspects of the CVA, for a perceived lack of engagement with landlords over the terms of the agreement.
However, the BPF has held talks with RSM and resolved areas of contention between landlords and the insolvency specialists.
Ian Fletcher, director of policy at the British Property Federation, said: “We are now engaging constructively and openly with RSM on behalf of the commercial landlords we represent to forge a CVA that works in the best interests of all stakeholders. We believe transparency is the key to developing a robust CVA. We are pleased to be working with RSM and we are confident that together we can achieve the best possible result for all.”
Damian Webb of RSM, the proposed supervisor of the CVA, said: “We have now had the opportunity to articulate to the BPF the logic and reasoning for the CVA. We very much welcome the ongoing input of the BPF which will hopefully lead to a satisfactory outcome for all concerned. It has been good that we have been able to resolve the key issues and look to move forward with the process."