Debenhams has secured an extra £50 million of funding to provide it with additional liquidity and to help it get through the crucial Christmas trading period.
The struggling department store said some of its current lenders – which took control of the retailer in April in a pre-pack administration deal – had agreed to stump up the extra money on “substantially” the same terms as a £200 million loan in March.
“We are delighted that our investor consortium have reaffirmed their commitment to the business by making available additional financing support for our peak trading period,” – Chief Executive Stefaan Vansteenkiste said in a statement.
Source: retailgazette.co.uk
