Carpetright exploring CVA

Carpetright in grimsby

Carpetright is exploring the possibility of a company voluntary arrangement (CVA), the main objective of which would be to address its ‘oversized’ property estate.

The retailer announced the strategy today, as it confirmed that it had secured £12.5m in funding from Meditor European Master Fund.

In a trading update, Carpetright said the objective of the CVA, if it went ahead, would be to “address the legacy property issue inherited from the previous leadership by rationalising the company’s property portfolio in order to improve the long-term prospects of the business”.

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