BPF calls for urgent government review on CVAs

The British Property Federation has called on the government to conduct an urgent review of company voluntary arrangement processes, among concerns they are being “misused”.

Department store House of Fraser is the latest retailer to join the growing ranks opting for the controversial insolvency procedure. If approved, 31 stores will close including its Oxford Street flagship.

The BPF has said the process “risks undermining the UK’s global reputation and deterring much-needed investment into our town and city centres at a time when it is arguably more important than ever that the UK demonstrates it