Superdry PLC (LSE:SDRY) has confirmed it is in negotiations with Bantry Bay Capital, a specialist lending provider, to replace its existing up to £70mln asset-backed lending facility.
In London, Superdry shares fell 8.5% changing hands at 115.82p by midday.
The retailer was responding to a report in The Sunday Times which said the refinancing plans were close to being finalised.
Talks continue with other lenders as well and “a further announcement will be made as and when appropriate”, Superdry said in a statement.
The fashion group, best known for sweatshirts, hoodies, jackets and coats, said last month that the facility is due to expire at the end of January 2023.
Superdry operates 740 branded stores across 61 countries and employs more than 2,500 people in the UK and Ireland.
--Updated to include share price detail, first published at 7:23am--