DFS Furniture negotiating up to £70 million loan with lenders

By Sarah Lizee

Olympia, Wash., April 20 – DFS Furniture plc said it is in the advanced stages of negotiating an additional debt facility of £60 million to £70 million with its existing lending banks, according to a press release.

The new facility will supplement the existing bank facility of £250 million and will cover the near-term working capital unwind until sofa deliveries can resume.

The combination of the proposed additional financing together with the company’s operating cost mitigation measures is expected to, when agreed, give the group significant liquidity to see through an extended lock-down.

The Doncaster, England-based furniture retailer specializes in upholstered furnishings.

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