British retail company Debenhams is nearing to raise 230 million euros ($260.3 million) in funding from lenders.
Earlier this month, Debenhams was seeking to secure around an extra $198 million in new capital raise.
The company aimed at using the proceeds to refinance its bridge facility, which was secured back in mid-February and restore its credit insurance.
In August last year, Debenhams was considering disposing of Danish department store chain Magasin du Nord for up to $326.9 million.