Is the CVA the missing piece of the Jigsaw?

The proposal by Jigsaw to put the company into a Creditors Voluntary Arrangement (CVA) has been accepted by its creditors.

It seems that Jigsaw has not recovered from the effects of the pandemic and is yet another high street retailer which is using the CVA tool to jettison underperforming stores.

Jigsaw will close around 19 of its 74 stores and there will be around 200 redundancies.

Along with other retailers, Jigsaw is hoping to change to turnover based rent agreements with its landlords.

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, East Yorkshire, Scunthorpe, North East Lincolnshire or York, North Yorkshire offices.  Meetings can be held virtually or in any of our offices whilst observing the socially distancing guidelines.

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