Boohoo lenders reject extended deadline on 75 million pound debt

Boohoo Group has clashed with its lenders after those behind a 75 million pound portion of its debt refused to extend the payment deadline by another year.

The fast fashion company has been attempting to push the repayment of a 325 million pound debt, 250 million pounds of which it was successfully able to reschedule thanks to confirmation by six banks, according to The Telegraph.

However, lenders associated with the final 75 million, which is due to be paid back in March next year, are reportedly remaining firm on their deadline.

The extension for the other part of the debt was agreed upon in July, the fashion retailer announced last year, allowing it to ultimately delay the repayment until March 2026.

Meanwhile, a spokesperson for Boohoo told the media outlet: “Boohoo remains a strong, well-capitalised business with ample surplus liquidity.

“The agreed reduction in the [revolving credit facility], which will take effect in March 2025, reflects Boohoo’s lower requirement for revolving credit and re-affirms business as usual operations.”