Caffè Nero is exploring a company voluntary arrangement (CVA) as it looks to respond to the ongoing impact of the coronavirus crisis, Sky News reports.

Last month it was reported the business had hired KPMG to look at negotiating rent cuts, and whilst it is yet to make a final decision about the CVA it is expected in the coming weeks.

The coffee chain currently employs about 5,000 people with 660 stores across the UK, over 90% of which have reopened since the end of lockdown in June, with about 30 remaining closed for the time being.

A spokesman for the company in September said it “has been a difficult period since lockdown measures were introduced by the government and we’re working incredibly hard to navigate our way forward.

“As part of this, we are working closely with advisors to help review our options and assist with our ongoing negotiations with landlords.”