Your Space seeks CVA deal with creditors

Fledgling serviced office operator Your Space, based in Manchester and Liverpool, told the stock exchange this morning it was in talks over setting up a Company Voluntary Arrangement.

Shares in Your Space were suspended earlier this week after takeover talks were aborted.

The company said in a statement today: "Further to the announcement made by the Company on 15 September…it is currently in talks with insolvency practitioners regarding the implementation of a CVA, to be proposed to the creditors of the Company."

A CVA would allow Your Space to cancel some of its debts and agree a payment plan with creditors for the remainder.

The company said a further announcement will be made as soon as the terms of the CVA have been finalised.

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