Ann Summers landlords get their knickers in a twist!

Lingerie and sex toy chain Ann Summers is in talks with the landlords of its 90 high street stores to renegotiate rents in the wake of the pandemic.

Jacqueline Gold, boss of the business said that although some landlords have been open to discussions, some have not, which may result in the company proposing a Creditors Voluntary Arrangement (CVA).  Ms Gold went on to say that if a CVA is the way forward, those landlords which have engaged with them already will not be compromised.

Under the terms of a CVA, the company will be able to close its unprofitable stores, which will enevitably result in job losses.

This is another nail in the coffin for the high street.

We would be interested to see and hear what steps you thing the government should take to revive the high street!

For more information on bankruptcy, liquidation, administration and all the other insolvency procedures, or to take advantage of our free consultation and business health check, please telephone Stella Flemmings on 01377 257788, 01724 230060 or 01904 520116 and she will make you an appointment with one of our insolvency professionals at our Driffield, Scunthorpe or York offices.  Meetings can be held virtually or in any of our offices whilst observing the socially distancing guidelines.  Redman Nichols Butler cover all of Yorkshire and Lincolnshire.

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