A meeting last week to vote on seven company voluntary arrangements
was suspended to give Arcadia more time to negotiate with landlords.
Gourmet Burger Kitchen in Guildford could be one of 17 branches to close as the company seeks a company voluntary arrangement
What exactly are Company Voluntary Arrangements
? We explain all
TPG Capital also owns restaurant chain Prezzo, which recently secured the backing of creditors for a Company Voluntary Arrangement
The "Company Voluntary Arrangement
" will be voted upon by creditors.
To avoid going to the wall, the Polmont–based company entered into a company voluntary arrangement
(CVA) last year and agreed to pay back 47 per cent – around PS164,000 – over five years.
The Directors of David Price Food Services Ltd can confirm that on the 5th September 2012, following a majority vote in excess of 99%, a CVA (Creditors Voluntary arrangement
) has been agreed.
Failure to secure a Company Voluntary Arrangement
(CVA) consigned the club to liquidation last week.
On 7 May, Drydocks World-Dubai adjourned its scheduled Directions Hearing to allow it and its syndicated facility lenders the additional short period of time required to finalise the complex suite of financial documentation necessary to support Company Voluntary Arrangement
(CVAs) restructuring proposals.
However, the publication of a Company Voluntary Arrangement
proposal means creditors could accept a deal on June 14 with the club able to be out of administration from July 12.
According to The Sun, a judge at London's High Court dismissed the bankruptcy petition in a one-minute hearing after being told Gazza, 43, had set up an individual voluntary arrangement