Red alert to suppliers: London food market hall chain rumoured to be about to seek a company voluntary arrangement (CVA)

The London based food market hall outfit Try Market Halls has been closed since last year and is not expected to reopen until July or August due to the Covid-19 restrictions imposed by the Government.

Meanwhile debts are mounting up and now there is serious news for creditors as the firm plan to launch a company voluntary arrangement (CVA) for Try Market Halls, Try Market Halls Fulham Broadway, Try Market Halls Victoria and Try Market Halls Oxford Street.

Robert Moore of Company Rescue said: “The company's directors decided not to reopen any of the sites when restrictions were loosened as they agreed with social distancing and other pandemic restrictions in place.  It was the view that their markets would in central locations be very quiet. With the sites now not anticipated to reopen until later this summer, at the very earliest, and with trade creditor balances continuing to mount-up, each company is now taking decisive action to safeguard its future by undertaking a financial restructuring programme which is funded by a new investor in the business, Gees Court Partners.”

Ian Carrotte of ICSM said that he understood Will Wright and Chris Pole, of Interpath Advisory are the proposed nominees of the CVA. He said: “I understand that Fulham, Oxford Street and Victoria halls have reached agreements with the landlords over leases meaning they are critical creditors under the CVA.”

The creditors will have until 16 June 2021 to vote on the proposals.

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