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Reuters Published
August 8, 2025
Struggling British fashion brand Superdry said on 7 August it has secured additional funding of up to £25 million ($32 million) from restructuring specialist Hilco Capital but faces paying interest of just under 16%.
The group, whose shares have slumped 44% this year, raised £11 million in a share placing in May.
Superdry said the facility with Hilco is for a 12-month term with the option to extend, and is at an interest rate of 10.5% plus the Bank of England base rate on the drawn element.
Last week the BoE raised its key interest rate by a quarter of a percentage point to a 15-year peak of 5.25%.
The retailer said the Hilco funding will help drive its turnaround and cost-cutting plans.
The agreement is in addition to its existing £80 million asset-backed lending facility with Bantry Bay Capital Ltd.
Shares in Superdry fell on the news as investors digested the full impact of that interest rate.