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The large landlords that Wilco have will not be scared by a CVA which requires a high majority to vote in its favour.

A prepack will bring them to the table and reduce rents on stores that are over rented with closures not in the hands of landlords.

However the real issue is that management need to demonstrate what the new Wilco can deliver in improved performance as without that a CVA or pre pack is just stalling the inevitable closure.