Why TGJones’ impending restructuring has the retail property sector worried
With TGJones’ long-expected restructuring proposals expected to be put forward soon, financial advisory firms are privately worried that Modella Capital’s latest attempts at a ‘cram-down’ could kill the measure off for good.
If, as was first reported in the Sunday Times, Modella and its advisers at Teneo and law firm Slaughter and May, really are planning on closing up to 100 of the retailer’s 500 stores, then they are likely to have a very serious fight from disgruntled landlords on their hands.
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