Debenhams Group increases fundraise to £40 million
Debenhams Group has increased its fundraising from £35 million to £40 million in response to investor demand.
In a statement, the group said the planned fundraise was significantly oversubscribed at the issue price of 18 pence per share, a 5% discount to the closing share price of 19 pence per share on 17 February 2026.
Subscribe to TRBDebenhams Group will use the funds to accelerate its transition to an asset-lite model which remains at the core of the turnaround plan. They will also be used to create additional liquidity.
Dan Finley, Debenhams Group chief executive, said: “We are pleased with the strong level of support from new and existing shareholders.
“The success of the fundraise demonstrates the strength of support for our multi-year turnaround strategy.
“The fundraise will deliver an improved capital structure for the group, providing us with greater financial flexibility to execute our turnaround strategy and deliver value for all shareholders.”
Following completion of the planned fundraise, in which Iain McDonald participated, he has informed the company of his decision to step down with immediate effect as a non-executive director and as chair of the remuneration committee.
Finley said: “On behalf of the board, I would like to thank Iain for his valuable contribution to the group. Iain’s extensive experience across the technology, digital and marketing sectors has been a great benefit and counsel for the board.
“We are pleased that Iain remains an investor in the group and we look forward to Iain’s continued support.”
