Carpetright secures interim funding with second shareholder loan
Carpetright has secured the funding it said it needed to survive before raising £60m from shareholders.
The chain’s largest shareholder Meditor, which owns 29.99% of the retailer, has loaned it £15m to be repaid on 31 July. Carpetright is paying a £2.25m arrangement fee and 18% annual interest.
Carpetright borrowed £12.5m from Meditor in March, which is to be repaid on 31 August, at an interest rate of 3%.
It said that it still intended to begin raising funds from shareholders on or around 18 May.