N Brown completes 100 million pound fundraising

British retailer N Brown has completed the 100 million pound fundraising it announced last month.

The Manchester-based company has previously said the fundraising will help strengthen its balance sheet and “allow targeted investments to accelerate delivery of growth strategy to capitalise on the structural tailwinds in the group's markets”.

The company, which owns brands Simply Be, Jacamo and JD Williams, has also moved its listing from the main stock market to the junior AIM exchange.

It comes as the business announced a 17.6 percent drop in revenues to 356.7 million pounds for the first half of the year.

Photo credit: N Brown media gallery