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.”
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