Boohoo extends debt terms with some lenders but others stick to early deadline

A number of Boohoo Group’s lenders have agreed to extend the terms of £250 million of its borrowing by a year, but others owed £75 million are sticking to the original deadline.

That’s according to The Telegraph that said the company told it the cut-off on £250 million of its borrowing had been pushed to March 2026. The newspaper reported a spokesman saying it had received the support of six “household name” banks.

Yet the other lenders, which include “a leading Italian institution”, behind a £75 million portion of the revolving credit facility (RCF), continue to insist that the sum is paid back in March 2025. Boohoo has fully drawn on the facility.

The newspaper said that “delaying repayment until March 2026 was potentially crucial, as auditors seek certainty that financing is in place for at least a year before signing off accounts”.

But the company spokesman also said the group “remains a strong, well-capitalised business with ample surplus liquidity. The agreed reduction in the [RCF], which will take effect in March 2025, reflects Boohoo’s lower requirement for revolving credit and re-affirms business as usual operations”.