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Aspiring Lawyers - Applications & General Advice
Applications Discussion
Allen & Overy "Introduce a new law" question for VS application
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<blockquote data-quote="Habiba" data-source="post: 44105" data-attributes="member: 4455"><p>Hi James, so sorry for the late reply, I've only just seen this now <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /> </p><p></p><p>I was thinking along the lines of how CVA's for the most part tend not to be successful in the long term, in the retail industry. An industry which has been suffering for a while now - at least on the high street. We're currently seeing a lot of high street retailers going into administration due to the pandemic, which has exacerbated issues that were ongoing pre-COVID. So, I really do wonder how well retailers like New Look will do, who've opted for a CVA recently. Despite new legislation attempting to tackle some of the issues with CVAs, clearly some retailers are still opting for them. Is there a huge need for retailers opting for CVAs though, when they're hated by landlords and if anything, we've seen during the pandemic that landlords are readily making concessions to help retailers survive?</p><p></p><p>It's in that vein, I would've argued to remove the CVA option for (high street) retailers. I scrapped that as a potential answer anyhow and went with something completely different, but hope this is of some help, James <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":)" title="Smile :)" loading="lazy" data-shortname=":)" /></p></blockquote><p></p>
[QUOTE="Habiba, post: 44105, member: 4455"] Hi James, so sorry for the late reply, I've only just seen this now :) I was thinking along the lines of how CVA's for the most part tend not to be successful in the long term, in the retail industry. An industry which has been suffering for a while now - at least on the high street. We're currently seeing a lot of high street retailers going into administration due to the pandemic, which has exacerbated issues that were ongoing pre-COVID. So, I really do wonder how well retailers like New Look will do, who've opted for a CVA recently. Despite new legislation attempting to tackle some of the issues with CVAs, clearly some retailers are still opting for them. Is there a huge need for retailers opting for CVAs though, when they're hated by landlords and if anything, we've seen during the pandemic that landlords are readily making concessions to help retailers survive? It's in that vein, I would've argued to remove the CVA option for (high street) retailers. I scrapped that as a potential answer anyhow and went with something completely different, but hope this is of some help, James :) [/QUOTE]
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