Further update on financing
November 19, 2019
Further to Shop Direct Limited’s (“Shop Direct” and together with its subsidiaries, the “Group”) announcement on 13thNovember, 2019, £75 million has now been invested by way of equity injection from its parent company, Shop Direct Holdings Limited (“SDHL”), into Shop Direct. The remaining £75 million, out of a total funding commitment of £150 million, is fully committed to SDHL and available to the Group for subsequent drawing in accordance with its liquidity requirements.
Eilis Murphy 020 7404 5959
Sam Chienne 020 7404 5959
Nick Bishop 020 7425 5745
About Shop Direct
As the UK’s largest integrated pureplay digital retailer and financial services provider, Shop Direct has annual sales of £2bn.
Shop Direct’s retail brands are Very.co.uk, Littlewoods.com and Littlewoodsireland.ie. The company receives an average of 1.5m website visits every day, with 79% of online sales completed on mobile devices.
Shop Direct exists to make good things easily accessible to more people. With its multi-category range of famous brands, market-leading technology and data capabilities and unique financial services products offering flexible ways to pay, the group is well placed to deliver on that promise.
The company sells more than 1,900 famous brands, including big name labels and its own brands. Shop Direct has 4.05m customers and delivers 49m products every year. Its free click-and-collect service, CollectPlus, delivers to 7,000 stores across the country, increasing ease and convenience for customers.
For more information on Shop Direct, visit www.shopdirect.com or follow the company on Twitter at @ShopDirect.