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LATEST NEWS & EVENTS More retailers opt for CVAs beat insolvency  An increasing number of retailers are looking to Company Voluntary Agreements (CVAs) to avoid corporate insolvency. This form of insolvency and restructuring is becoming more common as landlords are more prepared to accept the arrangements, according to chartered accountancy firm Wilkins Kennedy. It has conducted research that shows there were 47 retail sector CVAs in 2010, which represents a 15 per cent increase on the 41 in 2009. The rise comes despite a fall in the overall corporate insolvency rate in the UK last year. Anthony Cork, director at the accountancy firm, noted that landlords are usually the hardest hit creditors when a CVA is filed. He explained that a CVA usually involves a restructuring of a lease as rents represent big overheads for retailers. "The fact that landlords are increasingly prepared to accept CVAs suggests that recent experiences have taught them that allowing a company to go into administration is an even bigger risk," he said. According to Experian, the corporate insolvency rate continued to fall at the start of 2011. Posted by Paul Stevens 
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