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"We have involved the CAPA team on both the Jessops and Phones4U administrations where they have brought to bear their skills and experience to generate significant additional recoveries for the stakeholders, a great result in both cases."
"I was interested in CAPA's point of difference, in that it works for tenants only. In completing 390 landlord negotiations I would say that CAPA's performance has been excellent, with very good results achieved."
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CAPA has showcased how it can resolve tensions between commercial property landlords and tenants, and adjust rents to sustainable levels, at the Turnaround, Restructuring & Insolvency (TRI) conference.
Held as a live, interactive digital broadcast for the corporate restructuring and insolvency profession, the TRI Conference featured case studies on how distressed businesses have been saved this year.
At the event CAPA founder and director Mike Sheath explained his team’s role in aiding the business rescue process, by negotiating with landlords and tenants, and restructuring leases to ensure rents are manageable for tenants.
In a year where vast numbers of retailers – from the smallest to the largest in the UK – have found themselves struggling or unable to maintain lease payments, Mike explained how CAPA can bring landlords and tenants to the negotiating table.
In one of the two Q&As with TRI Conference chair Tony Groom, on Sustainable rents during administrations, Mike explained there are various reasons why CAPA is engaged either prior to, or after, an insolvency or restructuring process. He talked through CAPA’s role in leading a debate with landlords in instances where the insolvent company’s occupation of sites is uneconomic, during an administration.
CAPA is also often engaged by firms that acquire businesses after a successful sale and rescue. Mike explained his team’s role in adjusting rents to sustainable levels in these cases.
In another Q&A on aiding the relationships between commercial landlords and tenants during lockdowns, Mike explained CAPA’s role in aiding those debates and bridging the gaps, particularly when landlords have not been able to take action during lockdowns, in the event of non-payment of rent.
Mike talked about helping to achieve traction with dialogue, along with visibility for landlords of the tenant’s performance and circumstances.
TRI Awards The TRI Conference was held on the same day as the TRI Awards, which was also held as a digital presentation. As headline partner of the awards, CAPA presented categories and delivered a welcome speech, to once again champion best practice in the business rescue profession.
CAPA will be sharing its views on managing sustainable rents during administrations, at the Turnaround, Restructuring and Insolvency (TRI) Conference on Wednesday December 9.
As a major sponsor of the conference, and the TRI Awards on the same day, CAPA will be featuring on the agenda with industry experts from the UK’s largest restructuring and insolvency firms.
CAPA founder and director Mike Sheath will be interviewed on issues that have been central to various administrations and the business rescue process this year. With decades of experience of negotiating with landlords - particularly in the retail sector - and securing sustainable leases for businesses, Mike will deliver insight on how rents can be managed and restructured during an administration process, as well as during lockdown.
Two interviews with Mike at the conference – which is a live, interactive, digital broadcast this year –come just over a week after both Debenhams and the Arcadia group entered insolvency, and a longer period in which retailers and dining chains have struggled to survive amid reduced footfall and expensive leases.
The TRI Conference will also feature a panel session on whether transparency will be delivered through new pre-pack rules, along with a case study from FRP Advisory, on how they managed to rescue Carluccio’s during the pandemic.
CAPA is also sponsoring the TRI Awards, which follows the conference on December 9. The awards will also be a live, interactive broadcast, hosted at Credit Strategy’s London TV studio.
CAPA will be presenting some of the key categories on the night – International Firm of the Year, Corporate Restructuring Firm of the Year – 4-10 licensed IPs, Insolvency Team of the Year and Property Valuation Provider of the Year.
CAPA will be the main sponsor of next year’s R3 Annual Conference.
Due to be held at De Vere Beaumont Estate Windsor between May 19 and 21, the R3 Annual Conference will feature three days of cutting-edge technical content, thought leadership and networking. Next year’s Annual Conference will really be one to remember as for the first time in R3’s history this will be a dual President Annual Conference with Colin Haig (2020-21 R3 Presidency) and Christina Fitzgerald (2021-22 R3 Presidency) both chairing the conference.
Around 200 conference delegates will be at the venue – which boasts 400 modern and luxury suites, a state-of the-art conference village and 44 acres of grounds featuring commissioned sculptures and natural ponds close to the River Thames.
More information on the conference can be found on R3’s website.
CAPA is delighted to be sponsoring the Turnaround, Restructuring & Insolvency (TRI) Awards for the 13th consecutive year, organised by Shard Financial Media.
The TRI Awards has championed the firms, teams and individuals who are beacons of best practice in the field of business turnaround, corporate restructuring, corporate insolvency and the funding of business recovery. The independent awards panel comprises restructuring professionals from the UK’s largest banks, turnaround practitioners, insolvency practitioners, funders, regulators and the country’s foremost legal experts.