Debenhams’ CVA opponent drops legal challenge

Debenhams Stevenage

Property investment firm M&G Real Estate has withdrawn its court action against Debenhams’ CVA.

The department store retailer said that the pending lawsuit brought against it by M&G Real Estate regarding its CVA had been withdrawn “following positive, constructive discussion” between the two businesses.

This is one of two legal challenges launched against the retailer following its two CVA proposals winning approval from over 80% of landlords and 94% and 97% of creditors respectively.

The court action brought against Debenhams by Sports Direct in conjunction with landlord Combined Property Control (CPC), which lets six stores to the retailer, remains outstanding.

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