£311m rights issue confirmed by DSGi

MCV Staff 30th April 2009 Business News

DSGi has confirmed to the Financial Times that a 311m rights issue is imminent, with the retailer saying the funds raised from it will go towards its store refit programme and alleviating cash flow problems being caused by credit insurers.

It said that the move had been forced by its net debt rising quicker than it had anticipated, blaming it on credit insurers withdrawing backing for its purchases.

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