Debenhams creditors give CVA green light

debenhams high street frontage

Debenhams’ creditors have approved the department store chain’s CVA, paving the way for it to close 22 stores next year.

Debenhams executive chair Terry Duddy said creditors had “overwhelmingly backed” its restructuring plan, surpassing the 75% threshold needed to give the CVA the go-ahead.

Around 1,200 workers will be affected by the coming closures, but the business has said it will redeploy staff where possible.

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