Trends & Features

JJB’s CVA plans dealt first blow

Capital Shopping Centres, the UK’s largest shopping centre owner, has confirmed it will be voting against JJB’s proposed company voluntary arrangement, in which the retailer hopes to reduce its rent bill.

JJB’s plans need the backing of 75 per cent of unsecured creditors and 50 per cent of shareholders.

CSC owns 13 regional shopping centres, including Lakeside, Thurrock; the Metrocentre in Gateshead; The Mall at Cribbs Causeway, Bristol; and the Trafford Centre in Manchester.

Its centres attracted 275 million customer visits and generated net rental income of £267 million in 2009.

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