UK department store chain Debenhams in talks with lenders for £150m loan
[BENGALURU] Ailing department store chain Debenhams said on Monday it was in advanced talks with its lenders for additional loans of about £150 million (S$264.9 million).
The company said £40 million from these loans would be used to refinance a bridge facility of the same amount announced on Feb 12.
The announcement comes days after Mike Ashley, one of Britain's most famous and unorthodox businessmen, said he was willing to take charge of Debenhams and would seek to remove most of the board and install himself in an executive role.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
‘Extreme’ climate blamed for world’s worst wine harvest in 62 years
Sheng Siong Q1 net profit up 9.3% on higher revenue
Nestle sales growth sputters on US slump, vitamin snags
Hermes Q1 sales jump 17% on strong China demand
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO