The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Debenhams said on Monday that M&G Real Estate had agreed to withdraw the court action related to the British retailer's company voluntary arrangements (CVA) that wiped out investors but kept the company operating.
Debenhams was also challenged in June by former shareholder Sports Direct over its restructuring plan.
"I am pleased that M&G has recognised the necessity for the CVAs," Debenhams Chairman Terry Duddy said, calling on Sports Direct and property firm CPC to do the same.
Debenhams is restructuring the chain using CVAs, which allow retailers to avoid insolvency by offloading unwanted stores, securing lower rents on other stores and reaching a compromise with creditors.
By Noor Zainab Hussai; editor: Edmund Blair.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.