Mutated CVAs are creating zombie high streets

The Company Voluntary Arrangement (CVA) process has been mutated into a legal mechanism that reduce rents but otherwise leave undead businesses unfit for the challenges of the modern retail environment, writes Morgan Garfield. [caption id="attachment_885522" align="alignright" width="200"] Morgan Garfield[/caption] These zombie companies are not only a curse on landlords, but also place solvent retailers at a disadvantage. CVAs were intended to be a process whereby creditors as a whole can voluntarily decide to support the restructuring of a business, reducing its liabilities to support its survival, and where all creditors benefit through