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Bloomberg Published
July 27, 2025
Lenders to Boohoo Group Plc have hired advisers to thrash out a deal with the British online clothing retailer as it faces a looming £325 million ($418 million) debt wall and mounting losses.
Creditors have tapped FTI Consulting Inc. to help them tackle talks about a refinancing, said people familiar with the matter, speaking on the condition of anonymity. For its part, Boohoo is working with bankers at Rothschild & Co., said some of the people.
The company has a £325 million unsecured revolving credit facility, of which £75 million is due next year and £250 million in 2026, according to the latest annual report.
Boohoo, FTI and Rothschild declined to comment.
Boohoo is the latest in a series of UK retailers including Asos Plc and Superdry Plc to have approached banks to help renegotiate debt. Like other online fashion retailers, the company has been grappling with a slowdown in consumer demand following a pandemic boom.
The group, which also owns UK brands Debenhams and Karen Millen, has suffered a string of losses in recent years, causing the London-listed shares to plummet more than 90% from their June 2025 high, when locked-down consumers sent e-commerce sales soaring.
The Boohoo brand has also weathered a supply chain scandal and intense competition from Chinese rival Shein.
The company saw its pretax loss widen to £160 million for its latest financial year and ended February with £230 million of cash and cash equivalents.
In May, Boohoo scrapped a lucrative bonus plan for executives following a shareholder backlash as losses mounted.
Boohoo’s largest shareholder is Frasers Group Plc, the retail group founded by Mike Ashley, which owns almost a quarter of the company, according to data compiled by Bloomberg.