Boohoo Plans to Raise £35 Million as Retailer Talks With Lenders

Boohoo Group Plc is planning to raise equity and hold talks with lenders as the online clothing retailer tries to turn around the business.

The company, which rebranded as Debenhams Group last year, aims to raise about £35 million ($47 million) in equity, with Chief Executive Officer Dan Finley, co-founder Mahmud Kamani and non-executive director Iain McDonald participating, according to a statement Tuesday.