{"id":166405,"date":"2020-05-19T09:12:00","date_gmt":"2020-05-19T09:12:00","guid":{"rendered":"https:\/\/www.theindustry.fashion\/n-brown-secures-finance-deal\/"},"modified":"2021-08-06T12:05:48","modified_gmt":"2021-08-06T12:05:48","slug":"n-brown-secures-finance-deal","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/n-brown-secures-finance-deal\/","title":{"rendered":"N Brown sales decline as it secures \u00a350m finance deal"},"content":{"rendered":"\n
Online retailer N Brown Group has agreed new financing arrangements <\/strong>to help it trade through the current difficult period, as the group reports sales have dropped by 25%.<\/strong><\/p>\n The group, which owns JD Williams<\/a>, Jacamo<\/a> and Simply Be<\/a>, reported its sales had declined by 25% in the last six weeks, as the world's \u201cvery uncertain environment\u201d begins to impact businesses harder.<\/strong><\/p>\n The board regards this performance as creditable in the circumstances and said it is \"hugely grateful for the commitment and flexibility shown by colleagues\" throughout the business.<\/p>\n The company secured a new three-year \u00a350 million facility, provided under the Government\u2019s Coronavirus Large Business Interruption Scheme.\u00a0<\/strong><\/p>\n It also has a securitisation facility of up to \u00a3500 million and an overdraft facility of \u00a327.5 million.<\/p>\n Apparel sales at the Manchester-based group were down by 48%<\/strong> over the same period. The business had however seen significant growth in home and gifting sales, as sales shot up by 74%.<\/p>\n