New Look is on the brink of completing a £100m debt refinancing, set to help the business during a tricky trading environment.
The retailer is currently involved in advanced talks with Blazehill Capital and Wells Fargo, centred around replacing a term loan maturing in June next year, Sky News reports.
According to the news outlet, discussions on refinancing the debt have been in progress for months.
The clothing company has been looking at its options for the loan with advisors at Deloitte.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
New Look’s lenders include Alteri, retail investor Davidson Kempner and an arm of Goldman Sachs.
A New Look spokeswoman commented: “With New Look’s c.£100m term loan maturing in June 2024, the group is currently in positive discussions with advisers and potential lenders regarding a refinancing.”
Back in March, the retailer revealed new redundancies under part of a wider examination of the business.
Click here to sign up to Retail Gazette‘s free daily email newsletter
1 Comment. Leave new
It’s also closed or closing serval stores recently on the quiet