voluntary arrangement

Also found in: Financial.

voluntary arrangement

(Banking & Finance) law a procedure enabling an insolvent company to come to an arrangement with its creditors and resolve its financial problems, often in compliance with a court order

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Arcadia said his decision to step down was "expected", given the approval and completion of its company voluntary arrangement (CVA).

High-profile departure from Arcadia

In recent months Links has been tipped as one of a string of retailers mulling a company voluntary arrangement, a controversial insolvency process used to slash rents and close unprofitable stores.

LINKS OF LONDON HOPING FOR RESCUE OFFER; IN BRIEF

Creditors backed plans to reduce rents on 135 stores at a meeting yesterday, after Monsoon proposed a Company Voluntary Arrangement (CVA).

Landlords back rent cut plans

JULIAN Pitts and Nick Reed, of Begbies Traynor in Leeds, have been approached to act as joint nominees and supervisors in a Company Voluntary Arrangement (CVA) of Leeds Rugby Union Football Club Limited (LRUFC), which trades as Yorkshire Carnegie.

Carnegie set for changes in structure

(Alliance News) - Shopping centre owner Intu Properties PLC has told Philip Green's Arcadia it will vote against the retailer's proposed company voluntary arrangement, Sky News reported on Tuesday.

PRESS: Arcadia's Future In Doubt As Intu To Vote Against Restructuring

Carpetright embarked on a company voluntary arrangement, allowing it to close up to 81 underperforming outlets.

Increase in Carpetright performance; IN BRIEF

The group, owned by South Africa-based Famous Brands, has announced plans for a company voluntary arrangement (CVA), an insolvency procedure which allows struggling firms to dump unprofitable stores.

Gourmet Burger Kitchen announces string of closures, threatening branches in Surrey; The future of restaurants in Guildford, Walton and Staines has been thrown into question as GBK becomes the latest chain to announce closures

The group, owned by South Africa's Famous Brands, has announced plans for a Company Voluntary Arrangement (CVA), an insolvency procedure which allows struggling firms to dump unprofitable stores.

GBK restaurants at risk

Last month, House of Fraser announced it was launching a Company Voluntary Arrangement (CVA) - a move that a number of retailers have taken this year as the high street meltdown continues.

House of Fraser yet to confirm store closures - 'We need to make difficult decisions'; After reports it was on the brink of collapse, House of Fraser hit out saying it was still in "very constructive" talks but would have to make "difficult decisions" about what they could keep open

It was confirmed today, that Mothercare has now received enough backing to go ahead with a company voluntary arrangement (CVA).

Mothercare announces plans to close 50 stores across the UK leaving 800 jobs at risk; It is yet another blow for the high-street

Poundworld is considering a so-called Company Voluntary Arrangement (CVA), an insolvency procedure which would allow it to slash its rents and close stores.

Poundworld is pursuing CVA that could see 100 stores close

On August 4, a "Company Voluntary Arrangement" will take place, at the offices of Refresh Recovery in Skelmersdale.