Hunter Boot, the renowned British footwear brand, is reportedly looking to secure £8 million in funding to boost its working capital. The company is currently in discussions with investors, including Gordon Brothers, to secure the necessary funds. Additionally, Hunter is engaged in an accelerated sale process, aiming to finalize a deal in the near future.
Although several proposals have been received by the company’s backers, including one from Gordon Brothers, Hunter is still in talks with its primary lender, Wells Fargo. Despite the positive progression of the sale process, with a current growth rate of around 20%, opinions on the company’s future without the cash injection remain divided.
A company insider asserts that there is no possibility of the business running out of funds. However, another source claims that Hunter is facing a funding crisis unless it can secure the required working capital soon.
This funding request comes after Hunter received significant support in 2020 when its majority shareholder, Pall Mall Legacy, provided more than double the amount currently sought. Other shareholders of the brand include Searchlight Capital Partners and Pentland Group.
Hunter Boot has long been adored by celebrities and fashion enthusiasts alike for its stylish and durable rubber boots. The brand has maintained a loyal customer base and a strong presence in the market. However, similar to many fashion companies, it has encountered challenges in recent years, exacerbated by the global pandemic.
Obtaining additional funding and potentially selling the company represents a vital turning point for Hunter. Given the unprecedented changes and uncertainties in the fashion industry, securing extra resources can equip the brand with the tools necessary to navigate the evolving landscape and continue its legacy.
As negotiations with Gordon Brothers and other investors progress, the future of Hunter Boot remains uncertain. Both industry insiders and fans of the iconic brand will closely monitor the company’s funding efforts and potential sale in the forthcoming weeks.
Useful links:
– Hunter Boot Official Website
– Searchlight Capital Partners Official Website
