Debenhams Group has announced that it has completed a new three-year facility, providing access to funding of up to £175m.

The online fashion, home and beauty retailer said that the new facility, which extends maturity to August 2028, replaces the group’s previous £125m revolving credit facility, originally due to mature in October 2026.

The group, which owns brands including Debenhams, Boohoo and PrettyLittleThing, said that the facility, which is executed by the new management team more than a year ahead of the original maturity date, provides "significantly enhanced financial flexibility", allowing it to deliver its new multi-year turnaround strategy.

The facility is provided by a number of financing parties, led by TPG Angelo Gordon.

The interest rate is set at the Bank of England base rate plus 7.3%, reflecting the increased scale and flexibility of the facility.

Chief executive officer at Debenhams Group, Dan Finley, said: "We have put in place a new facility, 12 months early, with strong lenders, that aligns and supports our new strategy - supercharging Debenhams and turning around our Youth fashion brands. This follows a comprehensive and competitive review of the market."

The group said that it will announce its 2025 financial year results by the end of August 2025.

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