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Struggling Mulberry to raise £20m amid losses
June 21, 2025
|Western Daily Press
STRUGGLING luxury handbag maker Mulberry has revealed talks to raise more than £20 million as the group warned over widening annual losses and worsening trading conditions.
The Somerset-based firm said it was launching the cash-call after a "post-2024-25 year-end review by the executive management, and in light of an even more challenging trading environment".
It added: "The board has concluded that the company will require additional capital to fund its growth strategy and achieve its desired financial targets."
Shares in the firm plunged 11% in yesterday afternoon trading.
Mulberry said it was in discussions with majority shareholder Challice - a group controlled by Singaporean entrepreneur Christina Ong and husband Ong Beng Seng - and major stakeholder Mike Ashley's Frasers Group over the fundraising.
It comes as Mulberry expects to slump to an underlying pre-tax loss of around £23m for the year to March 29 against losses of £22.6m the previous year.
هذه القصة من طبعة June 21, 2025 من Western Daily Press.
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