The Very Group, which operates multicategory digital retailers Very and Littlewoods, has announced the successful extension and renewal of its key debt facilities, securing long-term funding out to 2029 and beyond.
The group says the refinancing, completed under owner Carlyle, significantly strengthens its capital structure and leaves the business well positioned for the next stage of its growth. The group’s overall debt has been reduced by £150m with Carlyle’s capital support, which is expected to be positively acknowledged by rating agencies.
CFO Edward Fry comments: “Securing this long-term funding reflects the confidence of our lenders in the strength of our business. The combination of extended maturities, improved margins and further deleveraging provides a stable platform for continued investment in our digital and customer proposition, while maintaining a disciplined approach to balance sheet management.
"The £150m capital support from Carlyle is a reflection of their strong and ongoing support for the business. This leaves us in a robust financial position and well placed to support future growth.”
