Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Bridgepoint slashes Fat Face debt

Bridgepoint, the private equity owner of Fat Face, has reinvested an undisclosed sum into the lifestyle retailer to help reduce the lifestyle chain's debt by almost £22 million.

Bridgepoint along with Fat Face's management team are understood to have bought back £21.8 million worth of debt for the hevily reduced price of £12.2m.

The retailer's total debt now stands at £168.2m, down from £190m, which will reduce Fat Face's debt repayments and ease cashflow.

A spokesman for Bridgepoint said: "The retail sector is generally difficult at the moment, but we see Fat Face as a good investment opportunity."

Bridgepoint bought Fat Face for £360 million last year.

The £21.8 million debt repurchase includes a smaller reinvestment deal which completed in March. The March deal was the first example of a private equity group buying both equity and debt in a UK company.

Fat Face's latest report to creditors revealed the business increased sales and profits in July, compared to last year. However, current trading remains flat on last year.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.