New Look ‘very confident’ of winning CVA support but landlord body hits out

Nigel Oddy

New Look chief executive Nigel Oddy is “very confident” landlords will back the fashion retailer’s proposed CVA – its second in two years.

He told Retail Week that following conversations with landlords, New Look’s proposal includes enhanced terms for landlords including better break terms if an alternative tenant is found, minimum rent guarantees over three years and – as a result of refinancing by bondholders – a higher ranking as creditors because of lower secured debt.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

During December, registered users can access 24 free articles in our advent calendar - find it here or on the homepage.

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.