Debenhams turns to KPMG to secure its future

Struggling department store chain Debenhams has called in advisers from accountancy firm KPMG to help it investigate a range of options for its future that are said to include a company voluntary arrangement (CVA).
f it were to go down the route of a CVA, Debenhams would be declared insolvent but continue to trade to pay back creditors over a fixed period, subject to their agreement. This could entail store closures and renegotiations of rent but would only be entered into as a last resort,