Corporate Restructuring, Landlords

JOANN, Inc. to Close 500 Stores Nationwide

Farrell Fritz, P.C. on 2/27/2025

On January 15, 2025, JOANN Inc. commenced voluntary Chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. That was the second bankruptcy filing in a year for JOANN, an 82-year old fabric and craft...more

Review of company voluntary arrangements (“CVAs”)

Hogan Lovells on 7/1/2022

On 28 June 2022 the Insolvency Service published a report it had commissioned from RSM UK to assess the impact that CVAs were having on commercial landlords (the “Report”). The Report was commissioned in response to a number...more

UK company voluntary arrangements: 10 key takeaways for property owners from government research

Hogan Lovells on 6/30/2022

The company voluntary arrangement (CVA) is an insolvency process that has raised significant concern amongst commercial property owners in recent years about their use by tenant companies to change lease terms, write off...more

UK parking nightmare – what is happening with NCP’s restructuring plan?

Hogan Lovells on 8/5/2021

National Car Parks' proposed restructuring plan aimed to write-off arrears, cut rents and close unwanted sites but why did the plan stall? On 30 April 2021, National Car Parks launched its proposed restructuring plan,...more

Landlords win victory in latest CVA challenge case

Hogan Lovells on 6/10/2021

In the latest High Court decision relating to Company Voluntary Arrangements in the UK, the judge held that the Regis hairdressing group CVA should be revoked on the basis that it favoured shareholders at the expense of...more

BHS Company Voluntary Arrangement – Landlords Win on Penalties

Hogan Lovells on 3/7/2018

The English High Court has decided that collapsed retailer British Home Stores cannot challenge its own company voluntary arrangement as an unenforceable contractual penalty and must repay rental discounts to its landlords...more