Foot Anstey advises CDS Superstores on £190 million refinancing facility

National law firm Foot Anstey has advised CDS Superstores (The Range and subsidiary brands Wilko, Homebase and Bathstore) on a refinancing in connection with a new £190 million asset-based revolving credit facility.

The new facility significantly enhances CDS Superstores' financial flexibility and will support the group's ongoing investment programme across its operations, technology infrastructure, supply chain and customer experience. It also provides capacity to support further growth and expansion across its portfolio of retail brands.

Foot Anstey acted as lead legal adviser to CDS Superstores on the refinancing, supporting the business across a range of complex workstreams, including the facility arrangements and wider transaction requirements, working closely with CDS Superstores and other stakeholders to help deliver a successful completion. Having advised CDS Superstores for a number of years, the team was well placed to support the business on this latest strategic investment.

The Foot Anstey team was led by Partner Katie-Jane Rees and Senior Associate Caitlin Shasby, with support from Associate Samantha Uzzell, Trainee Solicitor Ryan Scott and Paralegal Qirat Syeda.

Katie-Jane Rees, Partner at Foot Anstey, said 'We're pleased to have supported CDS Superstores on this important refinancing. It was a complex transaction delivered within a challenging timeframe and required a highly collaborative approach from all parties involved. Having worked with the business for many years, it's rewarding to support a company that continues to invest ambitiously in its stores, technology and customer experience as it builds for long-term growth.'

Jamie Messham, Chief Financial Officer at CDS Superstores, said 'This new facility is more than double our previous arrangement and provides significant financial flexibility as we continue investing across every part of the business. Foot Anstey's commercial approach and understanding of our business has made them a valued adviser throughout the transaction.'

The transaction reflects continued lender appetite to support well-performing retailers with scalable growth strategies, strong asset bases and clear long-term investment plans.

To find out more about Foot Anstey's Banking & Finance team and how it supports businesses across the retail sector, please get in touch.