Debenhams has been given the go-ahead for store closures

Debenhams has successfully beaten a legal challenge on its CVA.

The case was bought on by a group of landlords, backed by Mike Ashley.

Debenhams revealed in a statement that the case had been dismissed on four out of its five grounds.

This means that Debenhams can now move forward with its planned store closure programme, and focus on restructuring the business.

Stefaan Vansteenkiste, Debenhams’ chief executive, said: “We are delighted that the court has today confirmed that our CVA is effective and will continue to be implemented as planned. We note that the only aspect that the judge required to be adjusted was a technical provision of the CVA relating to landlord forfeiture provisions.”