Superdry & Co secures 70 million pounds in new funding from Barclays and Bank of America

British fashion brand and retailer Superdry & Co has refinanced its debt, agreeing a committed asset-based lending facility of 60 million pounds with Barclays and Bank of America. Barclays acts as lead lender on the facility, which runs until October 2029.

Alongside it, Barclays is providing a trade finance facility of ten million pounds, guaranteed by UK Export Finance (UKEF), the UK government's export credit agency. This brings the total new funding package to 70 million pounds, with the trade finance facility supporting the group's growing international business.

The Cheltenham-headquartered company calls the refinancing a significant step in its transformation, moving the business from stabilisation to growth. It follows a return to profit in the 2025 financial year (FY25), continued EBITDA improvement through FY26 and a strong start to FY27. According to Superdry & Co, the new arrangement will save around five million pounds a year in interest costs compared with the previous facilities and gives it the liquidity headroom to invest in its plans.

From turnaround lender to major banks

The new facility replaces the arrangements Superdry & Co put in place with Bantry Bay Capital and Hilco Capital during its turnaround in 2023. Senior funding now sits with two major banks rather than a specialist turnaround lender. Hilco Capital has also extended its support until June 2028, providing up to 30 million pounds of additional headroom on top of the 70 million pounds package.

"We have done the hard work of fixing our foundations," said Julian Dunkerton, founder and chief executive of Superdry & Co. "The refinancing gives us the backing to focus on what matters most: growth, building Superdry & Co's brand portfolio, strengthening our international presence, and opening new stores in the right locations. Having Barclays and Bank of America behind us says a great deal about where we are taking this business and the opportunity ahead of us."

Chief financial officer Nic Shaw added: "This refinancing puts the Group on a firmer financial footing and gives us the headroom to invest behind our strategic plans. Barclays and Bank of America are the right partners for where we're taking the business next and have been constructive throughout." Shaw also thanked Bantry Bay for backing the business during the turnaround.

21 new stores and a growing brand portfolio

Superdry & Co currently operates 121 owned stores across the UK, Europe and the US. The new funding will cover its next steps: 21 new stores planned for FY27; continued expansion across Europe; and further investment in the brand portfolio built under Superdry & Co. That includes the rollout of Bench, the exclusive UK and European launch of US workwear brand Stan Ray and the long-term partnership with Kappa, which arrives for spring/summer 2027.

The lenders point to that growth as well. "This refinancing provides Superdry & Co with a strong platform for its next phase of expansion," said Jim Quantrill, relationship director for retail and wholesale at Barclays Corporate Banking. Lee Masters, director and senior business development officer at Bank of America, said the financing "will help expand their geographic footprint and product lines, introducing them to a wider customer base."

UKEF chief executive Tim Reid highlighted the company's role as an employer. "With more than 1,100 employees across the UK, Superdry is one of the South West's leading fashion employers. We're proud to support the company alongside Barclays as it embarks on its next phase of international growth."