14th Aug 2020 09:41
(Alliance News) - Fast fashion store chain Quiz PLC on Friday has it has secured an increase and extension to its existing loan facilities from lender HSBC.
Shares in Quiz were up 12% at 6.94 pence each in London.
The clothing company's total bank facilities has been doubled to GBP3.5 million from GBP1.8 million, comprising an overdraft facility of GBP2.0 million and a working capital facility of GBP1.5 million.
The loans will remain in place until the end of October. There are no financial covenants applicable to the facilities.
Quiz, which has been hammered by the Covid-19 lockdown, has GBP5.7 million in cash in addition to the loan facilities.
By Tapan Panchal; [email protected]
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