Shop Direct secures funding from Barclay brothers

Very website on smartphone

Shop Direct has secured £150m of additional funding from its parent company to plug a gap in equity triggered by an unexpected surge in PPI claims earlier this year.

The etail group has had the £150m shortfall provided in full by its owners the Barclay family. The online retailer said although there is “no immediate need for funding”, £75m will be invested into the business by way of an equity injection before the end of the month.

Shop Direct said the remaining £75m “is fully committed” to the business and will be available “for subsequent drawing in accordance with its liquidity requirements”.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.