Landlords of New Look stores have failed in their challenge to a CVA which wrote off rent arrears and imposed turnover rents on hundreds of stores.

Like so many high street fashion retailers New Look was already in a precarious position before the pandemic hit. When its turnover was reduced to nil overnight it projected it would run out of cash without help.

Enactment

On 11 September the Belgian Act that introduces certain measures to restrict the activities of vulture funds (the “Act”) was published in the Belgian Official Journal.