# UK’s Superdry in talks with Bantry Bay to refinance $85 million facility
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-11-28
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Superdry in negotiations to refinance borrowings with
Meta Description: British fashion group Superdry in talks to refinance up to £70m with Bantry Bay Capital before January deadline. Joint venture with Elliot Advisors.
URL: https://financedigest.com/uks-superdry-in-talks-with-bantry-bay-to-refinance-85-million-facilityhtml

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/2022-11-28t074933z2lynxmpeiar07hrtroptp4superdry-results-1736814805990-compressed.jpg)

LONDON (Reuters) – British fashion group Superdry said it is in negotiations to refinance borrowings of up to 70 million pounds ($85 million) with Bantry Bay Capital as it races to secure new backing before the facility expires at the end of January.

Superdry, which is best known for its hoodies and jackets, stressed the need to refinance some of its debt last month, warning that until the facility was replaced there was material uncertainty around the going concern of the group.

Bantry Bay Capital is a joint venture partnership with funds advised by Elliot Advisors, an activist investor.

Superdry said it was also holding talks with other lenders and would make a further statement when appropriate.

There can be no certainty that an [agreement will be reached](https://www.financedigest.com/adnami-signs-agreements-with-schibsted-and-amedia-to-deliver-high-impact-ads-with-unparalleled-reach-across-the-nordics.html "Adnami signs agreements with Schibsted and Amedia to deliver high impact ads with unparalleled reach across the Nordics"), nor as to the terms of any such agreement and we remain in discussions with other lenders,” Superdry said in its statement on Monday.

The group [returned to profit](https://www.financedigest.com/uks-j-d-wetherspoon-returns-to-profit-as-supply-issues-ease.html "UK’s J D Wetherspoon returns to profit as supply issues ease") in the year to April 30, and said in early October that it had made an encouraging start to its current financial year.

($1 = 0.8288 pounds)

(Reporting by Sarah Young; editing by James Davey)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---