Global menu

Our global pages

Close

Key messages from the Virgin Active restructuring plan and the New Look company voluntary arrangement - UK

  • United Kingdom
  • Corporate
  • Distressed - Restructuring and Insolvency
  • Restructuring and insolvency

01-07-2021

 

It would be an understatement to say that May was a difficult month for landlords. Two judgements in quick succession dismissed landlord challenges to both the New Look company voluntary arrangement and the Virgin Active restructuring plan. With landlords facing estimated pandemic-related rental arrears of £6 billion for the period of March 2020 to June 2021, these judgements provide for an extremely challenging environment for rental recoveries as tenants look to restructure their liabilities using these two restructuring tools.

Read our articles on both the Virgin Active and New Look restructuring plan:

Key messages from the Virgin Active sanction judgements >

Key messages from the New Look sanction judgements >

 

 

Alex Rogan, Legal Director

< Go back

Print Friendly and PDF

© Eversheds Sutherland 2023. All rights reserved. Eversheds Sutherland is a global provider of legal and other services operating through various separate and distinct legal entities.

Eversheds Sutherland is the name and brand under which the members of Eversheds Sutherland Limited (Eversheds Sutherland (International) LLP and Eversheds Sutherland (US) LLP) and their respective controlled, managed and affiliated firms and the members of Eversheds Sutherland (Europe) Limited (each an "Eversheds Sutherland Entity" and together the "Eversheds Sutherland Entities") provide legal or other services to clients around the world. Eversheds Sutherland Entities are constituted and regulated in accordance with relevant local regulatory and legal requirements and operate in accordance with their locally registered names. The use of the name Eversheds Sutherland, is for description purposes only and does not imply that the Eversheds Sutherland Entities are in a partnership or are part of a global LLP. The responsibility for the provision of services to the client is defined in the terms of engagement between the instructed firm and the client.