Debenhams has won a High Court battle with a landlord to secure its CVA, paving the way for the department store to shut 50 shops.
Sports Direct had funded the legal challenge brought by Combined Property Control Group (CPC), which operates six Debenhams stores.
Mr Justice Norris, who presided over the case, said the argument presented by Debenhams’ lawyer Tom Smith QC that CPC was “simply seeking to disrupt the CVA to their advantage of their paymaster, Sports Direct” was “entirely plausible”.
Smith had argued during the legal proceeding that Sport Direct was funding the challenge because it “wants to drive its principal competitor out of business” and “pick up its assets on the cheap”.
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