The Debenhams Group, formerly known as the Boohoo Group, is negotiating a US $ 230 million debt plan. The fashion giant has discussed obtaining US $ 66 million of the anticipated amount via the high yield market.
According to reports, the retail firm has had conversations with a number of asset-backed lenders, who, in the event of insolvency, assume security over real estate, stocks, and intellectual property.
Refinancing an existing two-year loan that was taken out in October—dubbed “the worst refinancing deal that a public company has done in living memory” by Mike Ashley, the group’s largest shareholder—is likely to provide the full US $ 165 million.
In March, Boohoo declared that it was changing its name to Debenhams Group in an effort to transition the entire company to a marketplace model under newly hired CEO Dan Finley.
After Debenhams revealed that sales had dropped 16 per cent from US $ 1.92 billion to US $ 1.61 billion in the 52 weeks leading up to February 2025, Finley stated that the company’s successful recovery would serve as “our blueprint for the wider turnaround of the group.”
