Today’s news in brief-4/4/25
Manchester-based online retailer THG has successfully completed its debt refinancing, extending arrangements until December 2029. The refinancing includes a partial extension of its Term Loan B to €445m (£376.6m), a £74m repayment of Term Loan A, and the extension of a £150m revolving credit facility to May 2029. The move reduces net leverage from 3.2x to 2.2x based on FY 2024 EBITDA of £92m. THG, which recently raised £90m from investors, aims to progress toward a neutral net debt position.
Carphone Warehouse co-founder David Ross is set to invest £5m in fashion retailer Jigsaw, becoming its majority shareholder. The investment will replace founder John Robinson as the controlling stakeholder and follows Ross’s earlier cash injection seven years ago. Jigsaw, which faced pandemic-related challenges, plans to use the funds to strengthen its balance sheet, reduce debt, and enhance its digital presence. The retailer is also searching for a new CEO after Hash Ladha announced his departure.
New Look has secured a £30m investment from shareholders to accelerate its digital transformation. The funding will focus on data-driven innovation, AI-powered personalisation, and enhancing its app and online shopping experience. The retailer aims to boost customer loyalty, streamline checkout processes, and optimise its store network to support digital growth. CEO Helen Connolly said the investment will help New Look achieve its goal of £1bn in online demand by 2030.
The Very Group has launched HelloStudio, a new creative service leveraging its data-led capabilities to help external brands develop tailored marketing campaigns. The studio will use customer insights and AI to create omnichannel content, building on the success of its in-house Very Media Group. Julie Phelan, head of creative, said the initiative reflects the company’s expertise in delivering engaging campaigns while embracing new technology.
Nearly half (46%) of retail employees worked while unwell in late 2024, a 5% increase from the previous year, according to the Retail People Index. The report highlighted rising stress levels, with workers aged 35-54 experiencing the sharpest rise in presenteeism. Retail Trust data showed a threefold increase in requests for food aid, while job insecurity and financial pressures contributed to declining wellbeing. Experts urged employers to provide better support as economic challenges continue to impact the sector.