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Birmingham Post

Business

Jon Robinson

THG's £70m loan to build new headquarters cancelled

THG Nick Candy SoftBank Trafford council King Street Capital Management NatWest

A loan worth almost £70m to finance THG's new headquarters has been cancelled.

The software and online retail giant first agreed the £67.5m debt facility with Trafford Council in January 2020. The deal was part of a wider £1bn capital fundraising drive.

Work has not started on THG's new headquarters at Manchester Airport which was planned to have 300,000 sq ft of office space and house over 10,000 members of staff.

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