Almost all businesses in hospitality and retail have been in negotiation with landlords to try to secure rent holidays, rent deferrals or rent reductions (or all three).  For those in a precarious financial position the prospect of a CVA has had a significant influence on the negotiations, especially if other unsecured creditors outweigh landlords in value.  Some landlords have been sceptical about the prospect of tenants securing concessions through a CVA.  This judgment changes the landscape significantly and puts tenants in a significantly stronger negotiating position.