Revolution Beauty Group PLC has entered into a new financing agreement with its banks of £32mln, down from the previous £40mln arrangement.
The multi-channel mass beauty innovator said the revised deal reflects the group's cash requirements and gives the business sufficient liquidity. Revolution Beauty said at 28 February, the group's cash balance was £11mln.
In a statement, the firm said it expects to publish its financial year 2021/22 accounts by the end of April once further audit work has been completed by accountancy firm BDO.
The company said it is working hard towards lifting the suspension of trading in its shares as soon as possible following the release of these accounts.
It also continues to work towards releasing interim financial statements for the six-month period to 31 August 2022, which it intends to issue at the same time, the company said.