TFG London secures 90 million pound refinancing

In what has been dubbed as a “significant step forward” in its strategic growth plans, TFG London has announced a successful 90 million pound funding.

The group, which owns Hobbs, Whistles and Phase Eight, said that it had secured the refinancing of an existing 60 million pound debt facility on top of an additional 30 million pound, giving it “flexibility for further investment in its brand platform”.

The debt facility, which will also support the group’s long-term acquisition strategy, was provided by a banking syndicate consisting of Barclays, Lloyds Bank, Natwest and Absa, while the company itself had been advised by Argyll Debt Advisory and Bryan Cave Leighton Paisner.

In a release, CFO Matt Wilson said: "We are delighted to announce this successful transaction, marking an important milestone in our journey and placing us on a firm footing for sustainable, long-term growth.

“This refinancing further strengthens our balance sheet and supports us with our medium-term growth ambitions. We would like to express our sincere thanks to our banking partners for their continued support, reinforcing the solid foundation we have built as we look to the future."

TFG London, the UK arm of The Foschini Group Limited, has been on a significant path of growth since snapping up Phase Eight in 2015. The firm later acquired Whistles and Hobbs before launching its own homeware offering, Inside Story, early last year.

The group currently operates over 580 points of sale for its brands across 15 international markets.