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Your Space offers lenders a deal

Deloitte has arranged the terms of a company voluntary arrangement (CVA) for struggling serviced office group Your Space, as it battles in the face of decreased demand. Under the terms of the CVA, a dividend of around 20p in the pound will be repaid to unsecured creditors, with the potential for up to a further 40p in the pound payable if the company meets its targets. Your Space will also pay out any surplus funds left after selling property. Her Majesty’s Revenue & Customs, Your Space’s main unsecured lender has agreed to look favourably on the proposal.