CVA's are on the rise in the restaurant sector with not only Carluccios taking this route but also Prezzo and Byron too. CVA's also pose licensing considerations that shouldn't be overlooked. The Licensing Act 2003 dictates that on entering a CVA the premises licence will lapse with immediate effect There are  3 main options for the Premises Licence: 1) let it lapse - if the premises are closing this is most likely 2)transfer the licence prior to the CVA to a company which is not entering a CVA 3) transfer the licence immediately after the CVA. The Act allows the licence to be resurrected if a transfer application is made within 28 days of the CVA. So with timing and preparation the licensing position can be preserved but without it the ability to sell alcohol may be lost.