Throughout the length and breadth of the UK, chains of retailers have been closing their doors and making swathes of redundancies as part of these CVAs, many of which fail to ever result in the business recovering.
In fact, more than half of the retail CVAs out in place since this procedure was introduced in the mid 1980s have failed to lead to the retailer escaping eventual collapse. Some argue that the fact that CVAs allow the existing (and often flawed) management team to remain in place is the problem.
So why are they still such a popular option for struggling retailers and does buying a business from a CVA present opportunities?
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