Asos is raising £80m from shareholders and borrowing £275m from Bantry Bay Capital, the specialist lender which recently bailed out troubled retailers Superdry and Matalan, as it struggles to secure a turnaround after falling nearly £300m into the red.
The online fashion specialist said it had raised the funds to give it the “financial headroom” to improve shoppers’ experience and return to profitability within a year by simplifying its processes, cutting costs and becoming more innovative.
