High Street Coffee chain Cafe Nero is considering insolvency measures as it battles against the effects of social restrictions due to the Covid pandemic
Sky News is reporting that the chain is examining a company voluntary arrangement (CVA) as an option to reduce its rent bill and exit loss-making outlets.
“The privately owned group has yet to make a final decision about a CVA, although sources say one is expected in the coming weeks.”
Insiders say Caffe Nero, which is working with KPMG on its options, is expected to seek steep rent cuts from landlords as part of any restructuring deal.
