Shares in Naked Wines have suffered a fresh slump today after media reports about a refinancing spooked investors in the embattled online wine retailer.
The group hired debt specialists at Interpath Advisory to explore options around refinancing its debt, according to reports from Sky News over the weekend.
Naked’s shares sank by 8.9% in trading today to to 56.5p.
However, a Naked Wines spokesman insisted the news was not new and that it had been flagged in the group’s half-year results released in December last year.
“[The company] announced then that it was working with an [unnamed] advisor to explore options for a future credit facility that places fewer constraints on the business,” the spokesman added.
Loss-making Naked has been struggling for some time, with disappointing trading and a string of profit warnings leading to a collapse in the share price from 2021 highs of 879p. The group is now valued at just more than £40m.
Last month, Naked promoted its newly appointed MD Rodrigo Maza to CEO designate, to work alongside chairman Rowan Gormley to implement a turnaround plan.
It also cashed in a £12m loan in February related to the 2019 sale of Majestic Wine in an effort to boost its finances.
No comments yet