BusinessCompany NewsDiscover Leisure going for CVA

Discover Leisure going for CVA

KPMG says troubled caravan retailer will propose Company Voluntary Arrangement to avoid collapse

AIM-listed caravan retailer, Discover Leisure Plc’s is hoping creditors will
give the go-ahead to a company voluntary arrangement, allowing some breathing
space to carry on trading and avoid collapse.

Insolvency practitioners from KPMG are hoping to push through a deal which
will see Discover Leisure’s main trading subsidiary Signlease Ltd, enter into
the CVA.

Mark Firmin and Howard Smith, the CVA nominees from KPMG said: ‘The objective
of the CVA is to ensure that the company survives as a going concern.

‘If the CVA is approved, the business will be able to focus on restructuring
for future survival and success. It’s also well worth noting that the return to
creditors will be significantly better via the CVA route than it would be under
the alternative of administration.’

Last month, KPMG brokered
JJB
Sports’ successful CVA
. The troubled sportswear company became the first plc
to win the arrangement.

Related Articles

KPMG announces senior partner promotion in Newcastle

Accounting Firms KPMG announces senior partner promotion in Newcastle

11m Stephanie Wix, Writer
KPMG scoops Dorcaster audit

Accounting Firms KPMG scoops Dorcaster audit

12m Stephanie Wix, Writer
KPMG UK breaks £2bn barrier, while partner pay falls

Accounting Firms KPMG UK breaks £2bn barrier, while partner pay falls

12m Stephanie Wix, Writer
Advisory services push KPMG International to 8% growth

Accounting Firms Advisory services push KPMG International to 8% growth

12m Stephanie Wix, Writer
PwC scoops Rolls-Royce audit as tender results pile up

Accounting Firms PwC scoops Rolls-Royce audit as tender results pile up

12m Stephanie Wix, Writer
Legal and General lines up KPMG as external auditor

Accounting Firms Legal and General lines up KPMG as external auditor

1y Stephanie Wix, Writer
Global insolvency leaders announced at KPMG

Accounting Firms Global insolvency leaders announced at KPMG

1y Stephanie Wix, Writer
EY scoops Schroders audit from PwC

Audit EY scoops Schroders audit from PwC

1y Stephanie Wix, Writer