Specialist retailer Chipsworld has initiated a Company Voluntary Arrangement following financial strains put on it by the recession. The action was decided upon in order for the company to best protect itself, as well as its customers, suppliers and employees, it has said. The arrangement offers a protective legal framework to any eligible company, giving it time to repay all agreed debts under a strict, agreed timetable. “All our suppliers have been aware of this situation for many weeks and absolutely nothing has changed regarding the situation since then,” said the company in a statement. Read more…

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Chipsworld instigates CVA to protect company and employees

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