Ashurst and Allen & Overy (A&O) are among a raft of firms advising as home improvement retailer Focus DIY moves to secure a rescue deal through a company voluntary arrangement (CVA). Ashurst has been advising Focus DIY on the proposed CVA, which received more than 90% backing from creditors last month (24 August). It will see landlords of some 38 closed stores agreeing to waive rent liabilities in return for a share of a pot of money thought to be worth around £3.7m.
September 01, 2009 at 12:46 AM
1 minute read
The original version of this story was published on Legalweek
Ashurst and Allen & Overy (A&O) are among a raft of firms advising as home improvement retailer Focus DIY moves to secure a rescue deal through a company voluntary arrangement (CVA).
Ashurst has been advising Focus DIY on the proposed CVA, which received more than 90% backing from creditors last month (24 August). It will see landlords of some 38 closed stores agreeing to waive rent liabilities in return for a share of a pot of money thought to be worth around £3.7m.
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