Debenhams Group, which was renamed from Boohoo last year, said it has been preparing for an equity fundraiser to give the business extra liquidity.
Co-founder Mahmud Kamani, group chief executive Dan Finley and non-executive director Iain McDonald are set to take part in the fundraise.
It added that it is also in “advanced discussions” with its lending syndicate over further “financial flexibility” to help it with its turnaround efforts.
Debenhams said its turnaround plan is “going apace” and held firm its targets for the financial year, after an upgrade last month.
The company, which also runs brands including Karen Millen, has said it…