
Boohoo lenders are understood to have drafted in advisers to discuss refinancing options as the fast fashion retailer works to turn around mounting losses.
Sources said the retailer’s creditors have hired FTI Consulting to “tackle talks” about refinancing part of its £325m debt wall, Bloomberg reported.
Boohoo, which is working with bankers at Rothschild & Co, has a £325m unsecured revolving credit facility, of which £75m is due next year and £250m in 2026, according to the latest annual report.
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In its most recent update, the retailer posted losses had widened from £90.7m to £159.9m in the year to 29 February after sales plummeted 17% to £1.46bn.
The news makes Boohoo the latest fashion retailer, alongside Asos and Superdry, to approach banks to renegotiate debt as it looks to recover sales.
Last week, the brand revealed it would launch an online marketplace with over 150 brands at the end of August as it looks to become a “one-stop destination for all fashion, beauty and lifestyle needs”.
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