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Shop Direct owners to net £200m

The owners of Shop Direct are reportedly set to gain £200m in a refinancing deal, months after abandoning a sale of the business.

Sir David and Sir Frederick Barclay are to receive more than £200m from the launch of a £700m bond issue at Shop Direct, Sky News has reported.

Barclays, HSBC and Mediobanca are thought to be working on the deal.

The brothers withdrew Shop Direct from sale in July because of the political uncertainty.

Earlier this month Shop Direct CEO Alex Baldock announced he was leaving the firm. 

Shop Direct declined to comment. 

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