By Luke Tugby2019-07-22T16:10:00
Sports Direct has withdrawn its legal challenge to Debenhams’ CVA – but will continue to fund the objection lodged by one of the department store chain’s landlords.
Mike Ashley’s group brought a joint challenge to the CVA alongside Combined Property Control Group (CPC), which owns six Debenhams stores, last month.
Debenhams said today Sports Direct has now withdrawn its challenge but was “continuing to fund the ongoing challenge” by CPC.
The department store operator said Sports Direct had “agreed to bear any costs award eventually made against CPC and in Debenhams’ favour” following the conclusion of the challenge.
Debenhams continues to defend the challenge and insists it is “without merit”.
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.