Thorntons has completed its refinancing, having signed a new revolving credit facility of £52.5m.

The three-year facility is shared between three banks.

Last month the chocolatier undertook a restructuring to create two distinct business units – retail and manufacturing, in order to create greater accountability and transparency.

It also announced it has hired former Somerfield finance director Mark Robson to take up the same position at Thorntons. He will start no later than November 30, and replaces John Wall.

Thorntons like-for-like sales fell by 1.6 per cent in the 10 weeks ending June 27.