Lenders to the online fashion retailer are lining up AlixPartners and Clifford Chance to advise them as its post-pandemic financial performance deteriorates, Sky News learns.
Cost of living: Millions to see annual mortgage payments rise by more than £5,000 in next two years, Resolution Foundation warns
Its request for a covenant amendment was designed to ensure"optimal financial flexibility" at a time of economic turmoil, the person added. The intensifying gloom around the UK economy is beginning to have a profound impact on consumer-facing businesses as the threat of soaring mortgage costs, energy prices and other inflationary pressures hurt sectors such as retail and hospitality.
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