High street stalwart Debenhams has become the first UK business to start a new kind of insolvency process â one designed to protect companies from their creditors during the pandemic. The new ‘light touch’ administration allows company directors to file…
The Company Voluntary Arrangement (CVA) successfully agreed by Debenhams recently will knock £8.5 million off the company’s business rates bill, affecting 59 local authorities in the UK. The terms of Debenhams’ CVA, which was overwhelmingly agreed by the firm’s creditors…
The UK’s biggest department store entered into a pre-packed Administration on Tuesday, rendering shareholder’s investments worthless as the company passed to a new company owned by Debenhams’ lenders and bondholders. The new owners, which include high street banks like Barclays…
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