Arcadia’s US landlords drop CVA challenges

Arcadia Group has announced that two US landlords that had challenged two of the group’s CVAs have now agreed to withdraw their challenges.

The group said the climb down had followed “significant and constructive” talks and now means that its CVAs can be fully implemented.

Ian Grabiner, chief executive of Arcadia Group, said: “ On behalf of the board, I would like to thank all of our staff, customers and creditors for their loyal support during this tough period for retail businesses. We can now look forward to implementing our strategy and delivering our growth plan for the group.”

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