Online fashion retailer says it is in ‘final stages’ of agreeing new terms for £350m loan facility
Shares in the fast-fashion firm Asos have plunged after it confirmed it is in talks with lenders over changing the terms of a £350m borrowing facility to give it more flexibility in tough times.
In a statement, the online clothing retailer said it was in the “final stages” of agreeing changes to its financial covenants for its revolving credit facility, giving it “significantly increased financial flexibility against the uncertain economic backdrop”.
Online fashion retailer says it is in ‘final stages’ of agreeing new terms for £350m loan facilityShares in the fast-fashion firm Asos have plunged after it confirmed it is in talks with lenders over changing the terms of a £350m borrowing facility to give it more flexibility in tough times.In a statement, the online clothing retailer said it was in the “final stages” of agreeing changes to its financial covenants for its revolving credit facility, giving it “significantly increased financial flexibility against the uncertain economic backdrop”. Continue reading…