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Paperchase CVA approved introducing turnover-aligned rents

By Kyriaki Karadelis

25 March 2019

Paperchase CVA approved introducing turnover-aligned rents iStock.com/Pornchai_Soda

Creditors of UK stationery chain Paperchase have approved a company voluntary arrangement that counsel Kirkland & Ellis describes as “the first CVA of the current cycle” to introduce turnover rents, aligning retailers’ leases to their cash generation.