The owner of Boohoo and Debenhams is planning to raise £35 million to help accelerate its turnaround plans and cut debts. boohoo group plc (AIM:DEBS), which was renamed from Boohoo last year, said it has been preparing for an equity fundraiser to give the business extra liquidity. Co-founder Mahmud Kamani, group chief executive Dan Finley and non-executive director Iain McDonald are set to take part in the fundraise. It added that it is also in ?advanced discussions? with its lending syndicate over further ?financial
flexibility? to help it with its turnaround efforts. Debenhams said its turnaround plan is ?going apace? and held firm its targets for the financial year, after an upgrade last month. The company, which also runs brands including Karen Millen, has said it is on track to post adjusted underlying profits of £50 million for the year to the end of February. The retail group added that it is continuing to explore opportunities to help drive an ?asset-lite model?, such as selling non-core assets, supply chain partnerships, strategic IP licensing and other financing options. Last month, the group halted plans to potentially sell off its PrettyLittleThing brand. It did not disclose which parts of the business it might consider as ?non-core?.
Boohoo Group Plc is a holding company. The principal activity of its subsidiary undertakings is that of online clothing retailers. The Company designs, sources, markets and sells fashion clothing, home and beauty products to consumers globally. The diversity of its brands, including its five core brands, boohoo, boohooMAN, PrettyLittleThing, Karen Millen and Debenhams, enable it to serve a broad customer base, globally. Its segments include Youth Brands, Debenhams & Labels, and Karen Millen. Youth Brands include three online retail brands, such as boohoo, boohooMAN, and PrettyLittleThing. Karen Millen is a digital first, premium global brand. Debenhams is an online department store. Its portfolio of labels includes Nasty Gal, MissPap, Coast, Oasis, Warehouse, Burton Menswear, Dorothy Perkins, and Wallis. Its brands design, source, market and sell clothing, shoes, accessories and beauty products targeted at 16 to 60 plus year old consumers in the United Kingdom and internationally.
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Investor
Investor
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Global
Global
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Quality
Quality
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ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
