10/10/2019 | Press release | Distributed by Public on 10/10/2019 04:36
Following the successful consent solicitation concluded on 6 September 2019, Debenhams has raised a new £50m facility with certain of its existing lenders. This facilitywill provide the group with additional liquidity for the peak trading period and is substantially on the same pricing terms and utilisation mechanisms as the £200m facility originally announced on 29 March 2019.
Stefaan Vansteenkiste, Debenhams' CEO, said:
'We are delighted that our investor consortium have reaffirmed their commitment to the business by making available additional financing support for our peak trading period. We are in a strong position to continue to invest in marketing and new product initiatives as we prepare for the important Christmas season.'
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Notes to editors
Debenhams is a leading international, department store destination with a proud British heritage which trades out of around 240 stores and is available online in more than 90 countries at www.debenhams.com. It is one of the top five fashion retailers in the UK and has a leading market position in premium beauty both in-store and online. Debenhams gives its customers around the world a unique, differentiated and exclusive mix of own brands, international brands and concessions.