Article summary
Landlords and other creditors to vote on restructuring plan from business hit by lockdown. Buzz Bingo has announced plans to permanently close 26 halls in the UK with the potential loss of 573 jobs after its business was hit by the coronavirus pandemic. The company, which formerly traded as Gala Bingo, is to launch a rescue restructure via an insolvency procedure known as a company voluntary arrangement (CVA), which will allow it to exit unwanted properties and cut rents. […] Landlords and other creditors will vote on the plan, which involves the closure of sites in Bournemouth, Carlisle, Milton Keynes and Wolverhampton on 3 August. […] All were forced to temporarily close in March as part of the government’s high street lockdown intended to dampen the spread of Covid-19.
