YO! appoints Deloitte to explore CVA

By James Halliwell

- Last updated on GMT

Yo! appoints Deloitte to explore CVA

Related tags: CVA, Coronavirus

Sushi-focussed chain YO! has appointed accountancy firm Deloitte to advise on the possibility of a company voluntary arrangement (CVA).

Sky ​News​ ​reports that that although discussions are still ongoing, unless YO! was able to strike reductions in rent with landlords it was likely a CVA would be the likely option.

It is unclear whether YO! would look to close any of its approximately 70 restaurants as part of a CVA process.

YO! had been in the process of reopening a number of sites which had been remodelled to deliver food to customers via its trademark conveyor belt.

It had opened 18 sites, with around 13 to follow in the coming weeks, around half of its 70-strong UK estate. It has around 100 sites in total, including outlets in the US, Europe and the Middle East.

In a statement, a spokeswoman for YO! told BigHospitality's​ sister site MCA​: “All we can say at the moment is that YO! has been engaged throughout the last few months in exploring measures to best manage our property estate.

”This has included talking directly with our landlords and consulting with advisors so we can best adapt to the changed marketplace.”

Related topics: Business

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