THE RETAIL BULLETIN - The home of retail news
HOME
Department Stores
Electricals
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Shopping Centres & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
• Omnichannel Futures Conference 2020
• Future of Retail Marketing 2020
• The HR Summit 2020
• AI in Retail Conference 2019
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Debenhams secures £40 million funding boost

Debenhams has secured a £40 million cash injection following talks with its lenders. In a statement the department store chain said the facility agreement, which contains… View Article

DEPARTMENT STORES

Debenhams secures £40 million funding boost

Debenhams has secured a £40 million cash injection following talks with its lenders.

In a statement the department store chain said the facility agreement, which contains provisions for a step-up in pricing during the second quarter of the year, will “act as a bridge to facilitate a broader refinancing and recapitalisation”. Debenhams is also planning to conclude a comprehensive refinancing by the end of the period.

Sergio Bucher, Debenhams chief executive, said: “Today’s announcement represents the first step in our refinancing process. The support of our lenders for our turnaround plan is important to underpin a comprehensive solution that will take account of the interests of all stakeholders, and deliver a sustainable and profitable future for Debenhams.”  

Debenhams has also announced that its has entered an agreement in principle with supply chain solutions company Li & Fung to develop a strategic sourcing partnership as part of plans to make operational improvements to support its turnaround strategy. The retailer said the agreement is expected to cover a “material part” of its own-brand sourcing and will help it to achieve improved product quality and lead-times, higher margins and better working capital efficiency.

Speaking of the partnership, Bucher added: “It gives us access to state-of-the-art technology in the LF Digital platform, providing end-to-end visibility across our supply chain. This will help us anticipate and respond more quickly to trends and our customers’ preferences, as well as delivering better quality product.”

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

RETAIL EVENTS

Omnichannel Futures Conference 2020
Omnichannel Futures Conference 2020
5 February 2020
Cavendish Conference Centre, 22 Duchess Mews, London WG1 9DT
A truly omnichannel offering requires an understanding of customer behaviour across all shopping channels and how this should impact your overall business strategy
Future of Retail Marketing 2020
Future of Retail Marketing 2020
9 June 2020
Hallam Conference Centre, 44 Hallam St, London W1W 6JJ
The Future of Retail Marketing for Customer Engagement
The HR Summit 2020
The HR Summit 2020
1 October 2020
Hallam Conference Centre, London W1W 6JJ
Company values, collaboration with employees and driving a major HR transformation to create a truly omnichannel experience, need to be at the heart of the organisation's culture and brand
AI in Retail Conference 2019
AI in Retail Conference 2019
14 October 2020
Hallam Conference Center, 44 Hallam Street, London W1W 6JJ
CONFERENCE AIMED AT RETAILERS WORKING IN MARKETING, IT, DIGITAL, DATA AND TECHNOLOGY