HOME AND DIY RETAIL NEWS
Carpetright secures £15m interim funding
11 May, 2018 | by Retail Bulletin
Carpetright has secured a £15 million unsecured loan from Meditor European Master Fund to provide interim funding for short-term working capital ahead of its proposed £60 million equity capital raising.
This is the second loan that Meditor has provided to the struggling carpet and flooring retailer following a £12.5 million unsecured loan in March.
Carpetright is expected to launch its equity capital raising on or around 18 May.
The move follows last month’s approval of a company voluntary arrangement for the retailer that will see it close over 80 stores as it looks to restructure its business.
