Superdry has confirmed that it has secured a £70m funding package to support its recovery from the pandemic lockdown. It says that trading for the quarter ended July 25th was not as bad as expected with a drop of 24 per cent in overall sales thanks to substantially increased online demand. Store sales for the period, however, were down by 58.1 per cent.
“The actions we have taken to date have greatly strengthened our cash position, which, together with our new asset-backed lending facility, give us the flexibility to execute our current plans and to secure our recovery,” commented CEO Julian Dunkerton.
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