Debenhams confirms £35m equity fundraise to support turnaround plan

The group said its board believes the planned fundraise will provide "additional liquidity" and result in the "optimal capital structure". Debenhams expects the fundraise to reduce its net debt to adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) ratio to less than 2x within FY27. Currently, its board is engaged in “advanced discussions” with the group’s lending syndicate, aimed at improving covenant terms and increasing financial flexibility for the ongoing turnaround an ...