Arcadia may have sweetened the terns of its CVA to win landlord support at a series of votes due on Wednesday afternoon, but one major landlord, mall owner Intu, is set to vote against the plan, a report said on Tuesday.
Tuesday’s news of an Arcadia pension fund deal seemed to suggest the group’s CVA has a chance of getting through, but a new report says a key landlord will oppose the CVA plan, leaving it on a knife edge.
Intu Properties named Robert Allen as chief financial officer, the latest appointment in a wide-ranging management shuffle as Intu wades through the effects of a string of retail collapses and Brexit gloom.
And the results of the Arcadia CVA meeting? Well, we don't actually know as yet as it seems that a decision has been postponed for a week so the fashion retail giant could conduct more talks with “a few landlords”.
A shareholder advisory group has recommended investors to vote against executive payouts at Hammerson’s annual general meeting on Tuesday, arguing that they fail to reflect the company’s declining performance.