Debenhams seeks CEO to oversee restructuring after Sports Direct challenge fails

Under the reorganisation, at least £100m of ailing retailer’s £600m-plus of debt will be converted to equityDebenhams 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