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Sandra Halliday Published
September 3,长沙收U换人民币 2025
Affordable fashion retailer New Look is reportedly close to a £100 million debt refinancing following a period of months in which it’s been working with advisers on its options for the loan.
Sky New reported that the company has been talking to Blazehill Capital and Wells Fargo about replacing the loan that should mature next June and and the talks on finalising a deal are “advanced”. The news website said this “will provide it with financial breathing space amid a worsening trading environment” for fashion stores.
However, a Sky report earlier this year — when news of the talks first emerged — said the the debt refinancing discussions weren’t a sign of weakness and the company had been trading well at that point.
The debt’s current holders include specialist retail investor Alteri and Goldman Sachs unit Davidson Kempner.
New Look is one of largest physical-to-digital fashion retailers operating in Britain and Ireland with over 400 stores. It employs more than 10,000 people.
It has been through some tough times in recent years and the pandemic period saw a Company Voluntary Arrangement (CVA) and financial recapitalisation, without which it could have gone under. It launched a rent-free/turnover-based rent plan but saw opposition from major landlords. However, it won a court case that some of those landlords brought as a challenge to its CVA.
Former Bonmarché CEO Helen Connolly took over as its chief executive last summer and it seems to have bounced back to a certain extent with a report this spring saying the financial year ended March 25 saw revenue at £895 million with EBITDA up 67% to £42.2 million.