Daily Mail

Fat Face slims down debt

- Business · Fat Face

FAT Face has been res­cued by its lenders in a deal that will slash its debt from £145m to £25m.

The ca­sual cloth­ing chain has also been given ac­cess to an­other £30m of cash to keep it afloat dur­ing the Covid cri­sis. Fat Face was founded in the Alps in 1988 by friends Tim Slade and Jules Leaver, who be­gan sell­ing T-shirts and sweat­shirts out of the back of a camper van at night so that they could af­ford to ski dur­ing the day­time. It now has 245 stores and em­ploys more than 2,000.

The com­pany swung to a £268m loss in the year to June 2019, according to ac­counts filed on Com­pa­nies House.

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