British fashion retailer Debenhams has today confirmed plans for a £35m equity fundraise to boost liquidity and cut its net debt.
The board is in advanced talks with its lending syndicate to secure additional financial flexibility and expects to speak with institutional shareholders in the coming days before launching the fundraise.
Formerly known as the Boohoo Group, Debenhams has been cutting costs and reducing debt after supply-chain challenges, weaker demand, and increased competition from other low-cost fast-fashion brands hit profit.
CEO Dan Finley, co‑founder Mahmud Kamani, and director Iain McDonald plan to participate in the share sale at 20 pence per share.
The company said it remains confident of double‑digit adjusted core profit growth in fiscal 2027, with all brands now trading profitably on an adjusted EBITDA basis and the fourth quarter showing improved gross merchandise value trends.
