UK-based department store chain company Debenhams PLC is in talks to bag about an extra 150 million pounds ($198 million) in new capital raise.
Debenhams noted that it is in advanced discussions with its current creditors to secure the funds.
The company will use $52.8 million of the total proceeds to refinance its bridge facility, which was secured back in mid-February and restore its credit insurance.
In addition, Debenhams also expects to seek a larger sum in order to resist takeover by UK-based retailing company Sports Direct International PLC.