Superdry has confirmed it is in talks with existing lender Hilco about a new multimillion pound loan as it seeks financial headroom amid its turnaround programme.
The fashion retailer said on Thursday it was in negotiations with its lender to borrow £10m to help facilitate the implementation of its ongoing turnaround plan and cost reduction programme.
It is also seeking an additional £10m to assist with seasonal working capital peaks, and an extension to the maturity date of its facilities with Hilco by six months to 7 February 2025.
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The loan is understood to sit on top of an existing £100m existing debt facility, the majority of which was extended by Bantry Bay, according to earlier reports from Sky News.
Superdry said there is no certainty that such changes will be agreed.
It comes as co-founder and chief executive Julian Dunkerton is said to be in discussions with several investors about a possible take-private deal.
Dunkerton, who owns about 20% of the ailing retailer, has until 29 March to submit an offer.
Superdry is currently working with restructuring specialists at Teneo as it explores further options for the business.
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