Arrangement Cva: Future Sale and Rescue Plan

arrangement cva: He had previously offered a 50m loan for the business and to give landlords a 10% share in the proceeds from any future sale of the business, according to The Guardian. The latest offer comes as Green hopes to announce the financial rescue plan which involves an insolvency process known as a company voluntary arrangement CVA within days. In talks intended to clear a path for the closure of about 60 of the group's 570 stores and rent cuts on dozens more, Green has also offered a 50m cash investment for updating stores and online sales infrastructure at his Arcadia Group. He is battling to secure backing from landlords and those acting on behalf of pensioners for a deal well ahead of the Arcadia's next rental payment in late June. Arcadia's pension trustees, backed by the pensions regulator, are thought to want a 400m cash injection in order to agree to a cut in annual payments. As part of the rescue deal, Arcadia also wants to halve payments to its pension fund to 25m a year, only two years after agreeing to increase them to 50m. (news.financializer.com). As reported in the news.