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Second BHS CVA proposal goes through

BHS has gained creditor approval for its second company voluntary arrangement (CVA), relating to BHS Properties.

BHS Properties is one of two companies under the BHS group and represents 23 stores. The CVA relating to BHS Limited, which represents 125 stores, passed earlier today.

Speaking to Drapers just before the second vote for BHS Properties, chief executive Darren Topp was thankful, but pragmatic about the work that still needs to be done.

“We are very grateful and appreciative to our creditors who have supported us through the process and we realise for landlords in particular, it hasn’t been an easy decision,” he said.

“But we have to remember that this is just the start of the process. There is lots to do and we’re not afraid of it. We have a great team behind us and we’ll be accelerating our turnaround plan.”

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