LONDON – British trend group Superdry mentioned it's in negotiations to refinance borrowings of as much as 70 million kilos ($85 million) with Bantry Bay Capital because it races to safe new backing earlier than the power expires on the finish of January.
Superdry, which is greatest identified for its hoodies and jackets, confused the necessity to refinance a few of its debt final month, warning that till the power was changed there was materials uncertainty across the going concern of the group.
Bantry Bay Capital is a three way partnership partnership with funds suggested by Elliot Advisors, an activist investor.
Superdry mentioned it was additionally holding talks with different lenders and would make an additional assertion when applicable.
“There may be no certainty that an settlement can be reached, nor as to the phrases of any such settlement and we stay in discussions with different lenders,” Superdry mentioned in its assertion on Monday.
The group returned to revenue within the yr to April 30, and mentioned in early October that it had made an encouraging begin to its present monetary yr.
($1 = 0.8288 kilos)
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