Boohoo hires advisers amid refinancing talks
The company is the latest in a series of UK retailers, such as Asos and Superdry, to have approached bankers for refinancing debt issues
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Boohoo lenders have allegedly hired advisers to discuss refinancing options to tackle its £325m debt wall and losses.
According to Bloomberg, creditors have hired FTI Consulting Inc to deal with the refinancing as Boohoo is also working with bankers at Rothschild and Co.
The retailer’s latest annual report shows that the brand currently has a £325m unsecured revolving credit facility, of which £75m is due next year and £250m in 2026.
The company is the latest in a series of UK retailers, such as Asos and Superdry, to have approached bankers for refinancing debt issues.
In its most recent update, the retailer announced that its losses have widened to £159.9m, up from a previous loss of £90.7m as revenues fell 17% to £1.46bn.
Recently in May, the company also scrapped a £1m bonus plan for its executives after receiving backlash from shareholders.
Boohoo has been contacted for comment.
