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Carpetright secures £15m interim funding

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.

HOME & DIY

Carpetright secures £15m interim funding

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.

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