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Superdry lender increases borrowing level under asset-backed facility

25th Apr 2023 09:15

(Alliance News) - Superdry PLC on Tuesday said that its lender Bantry Bay Capital Ltd had agreed to increase its borrowing availability level, until the sale of APAC Sale Group Pte Ltd is complete.

Superdry said it currently has an asset-backed loan of up to GBP80.0 million. The Gloucestershire-headquartered clothing company said that its asset base is currently reduced due to a seasonal low in its working capital cycle, and a weaker performance in its wholesale division.

Superdry said its net debt position is about GBP26.0 million, unchanged from close of business yesterday.

Superdry's shares were up 1.2% at 86.71 pence in London on Monday.

By Emma Curzon, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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