86
Fashion Jobs
SHISEIDO
K-Key Account Lead
Permanent · HO CHI MINH CITY
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
Published
May 29, 2020
Download
Download the article
Print
Text size

Matalan seeks £50m funding injection from lenders

Published
May 29, 2020

Matalan has announced it plans to raise £50 million from both existing bondholders and lenders to help it tide over the coronavirus crisis. 


Matalan


The funding consists of a £25 million revolving credit facility from the UK government’s Coronavirus Large Business Interruption Loan Scheme and £25 million of new notes that will be purchased by a group of current bondholders.

The plan, if approved by the majority of bondholders, will strenghten Matalan’s liquidity following the Covid-19 lockdown in the UK. 

After the government announced the closure of non-essential retail stores on 23 March, all 232 Matalan stores were forced to close their doors, significantly impacting the retailer’s ability to generate sales during April and May.

11,000 employeees were placed on furlough, rent payments were deferred and the company offered to pay suppliers just 70% of their bills for April, May, June and July.
 
“On 27 April 2020, Matalan announced that it was assessing a number of alternative options to raise additional funding,” the firm said in a statement on Thursday.

“This funding is required to enable Matalan to manage the short-to-medium-term cash flow impacts following the temporary loss of store revenue arising solely due to the direct impacts of Covid-19.”

A third of bondholders have already indicated that they intend to approve the plan, but the funding arrangement requires consent from more than half of bondholders by 5pm on June 3.

If the consent solicitation fails, Matalan warned creditors that any other financing alternatives will be “significantly less attractive”.

Copyright © 2024 FashionNetwork.com All rights reserved.