Fashion retailer Superdry confirmed on Monday that it is in talks with London-based fund Bantry Bay – which is backed by Elliott Advisors – to replace its existing up to £70m asset-backed lending facility.
“There can be no certainty that an agreement will be reached, nor as to the terms of any such agreement and we remain in discussions with other lenders,” Superdry said, adding that a further announcement will be made as and when appropriate.
The statement was made after The Telegraph reported over the weekend that Elliott was poised to bankroll the retailer’s rescue, with Superdry due to repay its loans in January.
The Telegraph cited City sources as saying that talks with Bantry Bay were at an advanced stage, with Superdry hopeful that a deal could be agreed as early as this week.
According to reports, Bantry Bay is also in talks with discount chain Wilko over a £35m cash injection.
