The administrations of BHS and Austin Reed have been well publicised. Both had agreed CVAs before ending up in administration, prompting us to analyse the success rate of the CVA. Between 2009 and 2016, CVAs were entered into by JJB Sports plc, Focus Do It All, Discover Leisure, Blacks, Fitness First, Travelodge, Mamas and Papas, Austin Reed and BHS. Out of these nine companies, only three continue to trade (Fitness First, Travelodge and Mamas and Papas). It may be that whilst a CVA can provide a retailer with a breathing space, it is not always able to guarantee a solution in today’s challenging market.