Italian restaurant chain Carluccio's have joined the growing list of companies looking to rationalise their business and cut overheads by proposing a Company Voluntary Arrangement (CVA) with its creditors.
Associate Tom Bond appears in Economia saying, "A CVA is a compromise between a distressed company and its unsecured creditors. It provides an opportunity for a company to reduce debts, avoid unprofitable contracts (including leases) and focus on more profitable elements of the business."
CVAs: the benefits and disadvantages is availabe to read on the Economia website.
Thomas is an associate in the insolvency litigation team. He acts for insolvency practitioners, company directors and creditors to tackle issues arising before, during and after events of insolvency.