Superdry lands £70m refinancing from Barclays and Bank of America to fund 21 new stores
What's the deal? SuperdryDealroom has a profile for this one. Try Dealroom → has secured a £70 million refinancing package led by Barclays, alongside Bank of America, to fund an expansion that includes 21 new UK stores. The deal combines a £60 million asset-based lending facility from the two banks with a £10 million trade finance facility backed by UK Export FinanceDealroom has a profile for this one. Try Dealroom →. Hilco CapitalDealroom has a profile for this one. Try Dealroom → has separately extended its support until June 2028, providing up to £30 million in additional headroom.
Why now? The package replaces financing agreed with Bantry Bay CapitalDealroom has a profile for this one. Try Dealroom → and Hilco Capital during Superdry's 2023 turnaround. It follows a return to profit in FY25, continued EBITDA improvement through FY26, and what the company called a strong start to FY27.
What's the endgame? The Cheltenham-based retailer plans to open 21 stores during FY27 and expand across Europe while investing in its brand portfolio. That includes rolling out BenchDealroom has a profile for this one. Try Dealroom →, the exclusive UK and European launch of US workwear label Stan RayDealroom has a profile for this one. Try Dealroom →, and a long-term partnership with KappaDealroom has a profile for this one. Try Dealroom → launching for spring/summer 2027.
By the numbers: The new £60 million facility runs until October 2029 and is expected to deliver annualised interest savings of around £5 million. Superdry currently operates 121 owned stores across the UK, Europe, and the US, plus 131 franchise locations across 21 countries.
In their words: "We have done the hard work of fixing our foundations," said founder and chief executive Julian Dunkerton. "Having Barclays and Bank of America behind us says a great deal about where we are taking this business and the opportunity ahead of us."
The signal: The deal marks Superdry's shift from survival to growth, less than two years after it delisted from the London Stock ExchangeDealroom has a profile for this one. Try Dealroom → and restructured its property estate to avoid insolvency. Swapping turnaround-era lenders for two major banks signals renewed confidence in the retailer's recovery.
Read more: retailgazette.co.uk
Image credit: Kainoki Kaede
