BHS’s finance consultant and former Beales boss is to leave the business, one month after he helped the retailer navigate its CVA.

Michael Hitchcock will leave the business this Thursday, which is the deadline for CVA (company voluntary arrangement) objections.

The CVA was voted through by landlords last month. They agreed by a 95% majority to radically reduce rents on more than half of its 164-strong store estate and close 40 stores.

BHS said Hitchcock’s role in the procedure was “key”. It added: “He joined on an interim contract and will leave when the CVA process completes,” it said.

Topics