×
68 864
Fashion Jobs
NORDSTROM
Asset Protection - Coordinator - Portland Distribution Center
Permanent · Portland
MACY'S
Asset Protection Detective, Carlsbad Plaza Camino Real - Full Time
Permanent · Carlsbad
MACY'S
Asset Protection Detective, Park Meadows - Standard Part Time
Permanent · Lone Tree
MACY'S
Asset Protection Detective, Woodbridge Center - Full Time
Permanent · Woodbridge Township
MACY'S
Asset Protection Detective, Fashion Valley - Full Time
Permanent · San Diego
MACY'S
Asset Protection Detective - Overnight, Herald Square - Flex
Permanent · New York
MACY'S
Asset Protection Detective, Mall of New Hampshire - Full Time
Permanent · Manchester
MACY'S
Asset Protection Security Guard, Bay Plaza - Full Time
Permanent · Bronx
TIFFANY & CO
Finance Analyst- Latam
Permanent · New York
OLD NAVY
Unassigned General Manager - Dallas West
Permanent · Denton
ASCENA
Loft Outlet - Five Oaks Part-Time Sales/Stock
Permanent · Sevierville
LULULEMON
Assistant Manager, Operations | San Marcos Premium Outlet
Permanent · San Marcos
LULULEMON
Assistant Manager, Operations | Scottsdale Quarter
Permanent · Scottsdale
LULULEMON
Assistant Manager, Operations | Broughton st (Savannah, ga)
Permanent · Savannah
GAP
General Manager - Topanga Plaza
Permanent · Los Angeles
ADIDAS
Senior Finance Analyst
Permanent · Portland
ADIDAS
Key Account Manager - Macy's
Permanent · New York
MACY'S
Asset Protection Detective, Bay Fair - Full Time
Permanent · San Leandro
MACY'S
Asset Protection Detective, North Point - Full Time
Permanent · Alpharetta
MACY'S
Asset Protection Detective, Santa Rosa Plaza - Full Time
Permanent · Santa Rosa
MACY'S
Asset Protection Detective, West Covina - Full Time
Permanent · West Covina
MACY'S
Asset Protection Captain, Sunrise - Full Time
Permanent · Citrus Heights
Published
Jun 2, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hunter secures rescue deal as existing backer increases stake

Published
Jun 2, 2020

Celebrity favourite Hunter Boots has clinched a rescue deal following a sales plunge due to the coronavirus crisis. A further £16.5 million is being pumped into the business to keep it going through the crisis period.

Hunter has secured a rescue package


The refinancing has been led by existing shareholder Pall Mall Legacy and supported by Searchlight Capital, Pentland and other minority shareholders. As part of the recapitalisation, existing lender Wells Fargo will also augment and extend its financing arrangements for a further three years. It all means that Hunter will actually have the benefit of an additional £18.5 million of capital, to support future growth. 

Hunter is a brand that has a profile much higher than its size would suggest, helped by the aforementioned celebrity popularity and also the two royal warrants that it holds.

But it still faces huge challenges. The lockdown easing may have begun this month, but many of the events for which the company’s products are favourite purchases (such as festivals like Glastonbury) won't be happening this year. And that will extend the pain for the business that it has seen over the last few months.

Yet the brand does still seem to have a bright future with its finances now more sceure. Before the crisis, its fortunes had been improving and in its last set of full-year results, it swung to an operating profit of £7 million as sales reached a record £113.8 million.

Founded in 1856, Hunter is a progressive British heritage brand known for its Original boot. But today, it’s also a more diversified multi-channel, multi-geography business with a broad consumer reach and a wider product offering. In recent years, its e-commerce business has grown strongly, generating about 30% of global sales, positioning it to drive future growth. This e-tail strength would clearly have been part of its appeal to the backers who have put in the new financing.

The company said the recapitalisation “will strengthen Hunter’s balance sheet, with the aim of withstanding the economic pressures of the current global Covid-19 crisis as well as to sustain it for the foreseeable future”. 

Pall Mall Legacy is a Goldman Sachs-backed investment vehicle managed by Three Hills Capital Partners and will now be the majority shareholder of the company. Searchlight Capital is adding new funds too and retains a significant minority position and board representation. Pentland Group will also retain a minority shareholding and board seat. 

Pall Mall first invested in Hunter in 2018 and said it “intends to bring new strategic and operational support to Hunter’s management through its team of senior retail industry professionals”.

The brand’s chairman Gordon McCallum said:  “Very few British brands have gained such a notable presence in the UK, Europe, Japan and the US. Hunter boots are synonymous will quality and innovation, while also appealing to premium fashion-driven consumers. Since our original investment in 2018, we have been long-term believers in the potential for Hunter and continue to see great opportunities ahead.”

Copyright © 2022 FashionNetwork.com All rights reserved.