High Street
WH Smith buyer faces year-long ban from mass store closures
WH Smith would have the right to cancel a year-long TSA with Modella if a CVA was launched before the first anniversary of the transaction's completion
The new owner of WH Smith’s high street chain has effectively been banned from enacting widespread store closures for at least 12 months following the acquisition of the chain in March.According to Sky News, WH Smith would have the right to cancel a year-long transitional services agreement (TSA) with Modella if a company voluntary arrangement (CVA) was launched before the first anniversary of the transaction’s completion.
You'll need to
subscribe to unlock this content. Already subscribed? Login?
