Following the "Year of the CVA" in 2018, the retail sector is now dealing with the economic impact of the Government measures designed to combat COVID-19. Despite the stimulus package on offer, since the closure of non-essential stores at the end of March, the retail sector is already feeling the pressure. The last few weeks have seen administrators appointed to a number of well-known retailers, with the expectation that more retail businesses will find themselves in financial distress. Many sectors within our economy are being innovative to help combat the effects of COVID-19, the insolvency sector is no different – recent innovation includes the "light touch" administration, which has been first used in relation to Debenhams.
In this webinar we discuss:-
- The effect of tenant insolvency on rent and other lease obligations
- The key differences from a landlords' perspective between formal insolvency versus a CVA
- Practical considerations for landlords navigating tenant insolvency
- The potential impact of the proposed government measures intended to protect companies from insolvency as a result of the immediate effects of COVID-19