Fast Fashion

Asos secures £75m fundraising to support turnaround plan

Company said it has entered into a revolving facility with Bantry Bay Capital

Asos, the fast fashion firm, has raised £75 million to support its turnaround plan. The group revealed plans on Thursday evening to raise funds in order to strengthen its balance sheet.

The online retail business confirmed on Friday that it has completed a share placing, with 17.9 million shares at 418.1p each to secure the cash injection.

It comes after Asos earlier this month revealed losses of more than £290 million for the half-year to ...