Shop Direct closes in on £150m financing deal

Skyways House Shopdirect

Shop Direct owners the Barclay family are on the cusp of agreeing a £150m refinancing deal to shore up the online retailer’s balance sheet.

According to The Times, advisers to the Barclays have claimed that the deal is “all but done”.

The family are said to be close to agreeing terms on the financing package, which is likely to take the form of an equity injection from the Barclays. However, it is unclear how they have financed the deal.

Details of the potential cash injection have emerged volatile trading in Shop Direct’s bonds.

A pound’s worth of Shop Direct’s debt was yesterday valued at around 84p. Bond investors are seeking a return of 14% to lend to the etailer, which owns the Very and Littlewoods brands.

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