It looks like fashion retailer AllSaints could be the next COVID-19 retail casualty, as it plans to launch a CVA this week.

AllSaints, which has a store at Gloucester Quays, is set to ask for big rent cuts from its landlords across the UK through a CVA that could be launched as early as tomorrow (June 16).

The retailer's parent company Lion Capital has been looking at options to support it since the start of the pandemic, and has lined up corporate restructuring and performance improvement specialists Alvarez & Marsal to handle a restructuring plan.

It is not yet know whether store closures or job cuts will be part of the plan.

AllSaints trades from more than 250 stores globally and has 40 standalone stores plus dozens of concessions within department stores across the UK.

Picture credit: Google Images 2016