March 11, 2019 / 7:17 AM / 11 days ago

Debenhams in talks with lenders for 150 mln stg loan

March 11 (Reuters) - Ailing department store chain Debenhams said on Monday it was in advanced talks with its lenders for additional loans of about 150 million pounds ($195 million).

The company said 40 million pounds from these loans would be used to refinance a bridge facility of the same amount announced on Feb. 12.

The announcement comes days after Mike Ashley, one of Britain’s most famous and unorthodox businessmen, said he was willing to take charge of Debenhams and would seek to remove most of the board and install himself in an executive role.

$1 = 0.7700 pounds Reporting by Sangameswaran S in Bengaluru Editing by Saumyadeb Chakrabarty

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