£90M FOR TED TURNAROUND
FASHION chain Ted Baker has got £90million in new loans to execute a turnaround plan.
It said that its £133million facility, due to mature next year, will be replaced by a £90million credit line to expire in late 2023.
Ted Baker said the deal ensures it “has the necessary cash and liquidity to continue the successful delivery of its transformation plan”.
Demand for smart clothes and workwear has collapsed due to the pandemic but Ted Baker was struggling for years beforehand.