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Superdry PLC on Tuesday said that its lender Bantry Bay Capital Ltd had agreed to increase its borrowing availability level, until the sale of APAC Sale Group Pte Ltd is complete. Superdry said it currently has an asset-backed loan of up to £80.0 million. The Gloucestershire-headquartered clothing company said that its asset base is currently reduced due to a seasonal low in its working capital cycle, and a weaker performance in its wholesale division. Superdry said its net debt position is about £26.0 million, unchanged from close of business yesterday. Superdry’s shares were up 1.2% at 86.71 pence in London on Monday. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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