Card Factory scrambling to raise rescue cash


Card Factory scrambling to raise rescue cash after sales were hammered by third lockdown

Card Factory is scrambling to raise rescue cash after sales were hammered by the third lockdown, according to reports. 

The retailer has hired restructuring experts at Deloitte to oversee the financing, which it hopes will raise around £100m. 

Struggling: Card Factory tends to make most of its sales in-store rather than online

Struggling: Card Factory tends to make most of its sales in-store rather than online

Deloitte held talks with specialist lenders but is now understood to be speaking to banks that already back Card Factory. 

The gifts group has already arranged changes to terms and conditions with its lenders this year. 

It tends to make most of its sales in-store rather than online. 



READ SOURCE

READ  Terry Smith: ‘Quality will out’ and it’s worth paying up for

LEAVE A REPLY

Please enter your comment!
Please enter your name here