Debenhams seeks CEO to oversee restructure after legal challenge fails

Ailing retailer to proceed with plan to tackle £600m debt after opposition from Sports Direct
Debenhams is searching for a new chief executive as it presses ahead with plans to cut its debts after a legal challenge backed by Mike Ashley’s Sports Direct drew to a close. The financial restructuring will result in at least £100m of the ailing department store chain’s £600m-plus of debt being converted to equity.Stefaan Vansteenkiste, the chief executive, said: “T