Hunter Boot close to funding lifeline - report
Wellington boot maker Hunter is close to landing a £7m funding lifeline that could pave the way for an outright sale, according to a report.
The deal will see existing shareholders injecting £5m, with lenders contributing a further £2m, Sky News reported citing unnamed sources.
The financing, which is expected to be finalised imminently, comes amid separate talks about a sale of the company.
The company was saved in 2020 through a £16.5m capital injection, part of which came from Pall Mall Legacy, a fund backed by Goldman Sachs and Three Hills Capital Partners, an existing shareholder.
Pall Mall Legacy owns the majority of Hunter's shares, with Searchlight Capital Partners, a private equity firm, and Pentland Group, the sportswear giant behind brands such as Speedo, holding the remainder.
Reporting by Frank Prenesti for Sharecast.com