By Gemma Goldfingle2019-05-09T15:48:00
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.
Please sign in now if you have a subscription
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.