It is a bid to ease the financial burden that contributed to another year of pre-tax losses.
The 128-site chain, which is owned by private equity house Duke Street Capital, has refinanced its £150m bond, which carried an interest rate of 7.87pc, with a £225m issue at just 4.12pc.
This new bond will reportedly be used to reduce the group’s shareholder debt. The refinancing came after a strong year for the company in terms of sales, which rose nearly 16pc to £266m.
Photo credit: Core77 Design Awards
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