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Debenhams creditors support CVA proposals

Thu, 9th May 2019 17:28

RNS Number : 5792Y
Debenhams plc
09 May 2019
 

9 May 2019

DEBENHAMS GROUP

Debenhams creditors support CVA proposals

Debenhams Group Holdings Ltd confirms that the creditors of the group have approved the CVA proposals presented by Debenhams Retail Limited and Debenhams Properties Limited as announced on 26 April, with a majority significantly above the required threshold of 75% on each proposal.

Terry Duddy, Executive Chairman of Debenhams said:

"I am grateful to our suppliers, our pension stakeholders and our landlords who have overwhelmingly backed our store restructuring plans. We will continue to work to preserve as many stores and jobs as possible through this process. This is a further important step to give us the platform to deliver a turnaround."

 

Enquiries:

Brunswick Group Tim Danaher/Craig Breheny/Fiona Micallef-Eynaud

020 7404 5959

debenhams@brunswickgroup.com

 

Notes to editors:

Administrators were appointed to Debenhams plc (in administration) on 9 April 2019. The underlying group operating companies are unaffected and all businesses are continuing to trade as normal. Debenhams Group Holdings Limited, its subsidiaries and certain dormant companies, which together make up the Debenhams Group, were transferred to the ownership of Celine UK NewCo 1 Ltd. on 9 April 2019.

 

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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