ASOS Secures New Loans in Debt Refinancing to Bolster Final Reorganization Phase

Asos, new conditions for its debt. The British ecommerce company, led by José Antonio Ramos, has closed a debt refinancing agreement, with the aim of gaining financial flexibility in the last stage of its reorganization plan. The company accumulated losses of 56.2 million pounds ($73.7 million) at the end of the first half of the year.

According to the company, the new agreement includes a loan of 150 million pounds ($196.9 million), together with a deferred disbursement term loan (Ddtl) of another 87.5 million pounds ($114.8 million).

The agreement, signed with a number of private lenders, has a duration of five years, extending to November 2030, which, according to the company, substantially increases the company’s effective liquidity margin.

Asos has closed new loan packages until 2030

“I am pleased to announce this strengthening of our balance sheet and financial flexibility through a strategic refinancing agreement,“ explained Asos CFO Aaron Izzard. The executive also emphasized that, along with improved financial terms, the agreement also “better positions the company to meet the final phase of the restructuring and growth plan”.

Asos has been immersed in this restructuring for several years, which has involved, for example, reducing its indebtedness through other refinancing processes, but also through the sale to Bestseller of Topshop and Topman.

At the end of the first half, the period ended March 2, the British group managed to reduce its losses to 56.2 million pounds ($73.7 million), compared with a loss of 121.7 million pounds in the same period of 2024. Gross margin during the period rose by almost five percentage points, from 40.3% to 45.2%.

The first signs of recovery, in fact, have been translated into concrete growth actions by the company led by Ramos, such as the opening of a temporary store in London and another future location in New York.