The creditors of Debenhams have approved the company voluntary arrangement (CVA) proposals put forward by the business on 26 April 2019.
The creditors of Debenhams have today approved the company voluntary arrangement (CVA) proposals put forward by the business on 26 April 2019.
Jim Tucker, restructuring partner at KPMG and joint supervisor of the CVA, said: “The approval of these CVAs marks an important step forward for Debenhams, which can now put the next phase of its financial and operational turnaround plans in motion.
“As with all CVAs, more than 75% of creditors had to vote in favour in order to pass the resolution. Today’s vote saw the significant majority of all voting creditors choose to approve the two proposals.”
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