By Grace Bowden2019-06-11T12:55:00
Debenhams has confirmed that it has received a legal challenge to its CVA from Sports Direct, which boss Terry Duddy has slammed as “an unnecessary distraction”.
The department store retailer said that it has received applications from parties including Sports Direct to challenge its restructuring plan, which won approval from landlords and creditors last month.
Debenhams executive chairman Terry Duddy said: “We believe the challenges to the CVAs to be without merit and will vigorously defend them. Given the overwhelming support for the proposals from creditors, including over 80% of landlords, this is an unnecessary distraction as we implement our restructuring plans.”
Please sign in now if you have a subscription or are already registered with us.
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.