Jaeger and Peacocks are the latest in a (seemingly) ever lengthening list of High Street stores who have fallen victim to the pandemic, with both stores entering administration last week.
FRP Advisory have been appointed as administrators and are seeking a sale of the businesses which they note are both "attractive brands" for a potential purchaser.
The UK Government has introduced a new suspension of the wrongful trading provisions contained in s214 of the Insolvency Act 1986 (IA 1986) to apply from 26 November 2020 to 30 April 2021.
La prolongada duración de los efectos de la pandemia COVID-19 sobre el tejido económico empresarial ha impulsado al Gobierno a extender en el tiempo algunas de las medidas en el ámbito de la Administración de Justicia que se habían adoptado en el marco del Real Decreto-Ley 16/2020, de 28 de abril, posteriormente confirmadas en la Ley 3/2020, de 18 de septiembre.
We reported in September that New Look's CVA had been approved by creditors, including provision for 400 of its store rents to be linked to turnover - see https://blog.charlesrussellspeechlys.com/post/102gf9i/a-new-look-for-commercial-rents
However, it seems that the controversial CVA is now going to be challenged in the courts by a number of the landlord creditors, including British Land and Land Securities. This will obviously be unwelcome news for the retailer on top of the arrival of a second lockdown, which will inevitably cause further disruption for its business.
La Ley Concursal española prevé distintos tipos de marcos legales de reestructuración o insolvencia. El primero de ellos es el concurso de acreedores, que es un procedimiento sometido a una supervisión
The Spanish Insolvency Law sets out various types of restructuring or insolvency legal frameworks. The first is the “concurso de acreedores” or insolvency proceeding, which is a proceeding that is
The Spanish Insolvency Law sets out various types of restructuring or insolvency legal frameworks. The first is the “concurso de acreedores” or insolvency proceeding, which is a proceeding that is
The damage that the COVID pandemic has done to the food and beverage sector has been widely reported. Plenty of well-known and well-loved restaurants and pubs have entered into an insolvency process or formally restructured their debts in an effort to survive.
This summer’s landmark Supreme Court decision in Michael J Lonsdale (Electrical) Ltd v Bresco Electrical Services Ltd (in Liquidation) [2020] UKSC 25 (“Bresco”) would have doubtless been interesting news for Insolvency Practitioners (“IPs”) engaged in the construction sector.
Los efectos de la pandemia se están materializando en un incremento significativo de la deuda de consumidores y empresas. En este contexto, nuestra previsión es que, en los próximos años, las transacciones sobre deuda y activos tóxicos alcanzarán niveles muy elevados. Desde Garrigues, analizamos en este documento la situación y tendencias del mercado de deuda en Latinoamérica, España y Portugal, donde se percibe una clara tendencia a la sofisticación de este tipo de operaciones.
Pandemia COVID-19