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Landlord appeals Debenhams CVA

A Debenhams landlord has appealed against a judge’s ruling to close stores, as part of the retailer’s company voluntary arrangement. 

In September, Combined Property Control Group (CPC), which owns six properties let by Debenhams, challenged the retailer’s CVA. It claimed it was being treated unfairly as a Debenhams creditor.

The judge rejected a challenge to the CVA, allowing Debenhams to continue with closing 50 of its 166 stores and secure rent cuts on others

However, CPC has since challenged the judge’s ruling and appealed the decision. A hearing is now expected to take place at the end of January.

Drapers understands there is only one landlord and one store left in the challenge process, which was funded by Sports Direct International (now Frasers Group).

It is also understood that Debenhams is continuing to implement the CVA, which remains effective as confirmed by the judgement in September. 

Drapers has contacted Frasers for comment. 

 

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