Online multi-brand retailer The Hut has secured a £210 million revolving credit facility and
term loan with six banks. The funding
has been provided by Barclays, HSBC, Santander, Lloyds, RBS and Allied Irish
Bank and replaces an existing £80 million facility.
Matthew Moulding, CEO, said “We are delighted to build on
the continued support shown by Barclays, HSBC and Santander and very much look
forward to working with them and our new partners at Lloyds, RBS and AIB. This
new facility provides us with a very powerful foundation to further
differentiate our business model and expand both in the UK and internationally,
with a specific focus on supply chain integration across the health and beauty
sectors.”
The Hut counts the Myprotein together with
Lookfantastic and Beauty Expert amongst its brands and has experienced a 40 per
cent like-for-like increase in its sales for the first half of 2015. It has its
own nutrition production centre as well as a highly regarded proprietary
technology platform.
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