Published 23/03/2016
Embattled retailer BHS has been pulled back from the brink after creditors approved controversial plans to turn the business around.
The department store chain was thrown a lifeline when creditors backed two company voluntary arrangements (CVA) designed to revive its ailing business by cutting costs and preventing widespread store closures.
The company said the immediate future of the firm was secured when 95% of creditors and landlords voted in favour of a CVA for BHS Limited, which represents 125 stores.
A second CVA for BHS Properties Limited -…
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