The Hut Group Secures More Bank Cash For Acquisitions

Northwich-headquartered online retailer The Hut Group is understood to have increased its bank borrowing to $1bn (£795m).

According to reports, the company has secured a further £195m from its lenders after agreeing a £600m revolving credit facility in May. The banks include Barclays, HSBC, Santander, Citibank and JP Morgan.

The move could allow The Hut Group to explore acquisition opportunities.

In October 2017, the company snapped up cosmetics range Illamasqua in a £25m deal. Its other brands include sports and nutrition business MyProtein and technology retailer Zavvi.