Hotel Chocolat raises £40m

HOTEL Chocolat has raised around £40 million via a share placing to invest in the business and aid its efforts to become digital-led.

The fundraising will help the AIMlisted retailer invest in its UK manufacturing site and its digital arm.

Peel Hunt and Liberum worked on the placing, which Hotel Chocolat said was oversubscribed, and the retailer’s boss Angus Thirlwell said that demonstrated the support the company has with its investors.

The update comes after Hotel Chocolat last week said the UK store performance has been encouraging since non-essential retailers could reopen in April. But it has also seen strong digital growth and attracted new customers online during the pandemic.

Another company that has recorded online demand is London-headquartered mattress seller Simba Sleep. The firm today said sales in the six months to June 30 were 130% higher than a year earlier.

Chief executive Steve Reid said: “Sales performance through the lifting of lockdown has remained very strong.”