Hunter reportedly looking to raise 8 million pounds in fresh funding

A new report has revealed more details about British footwear brand Hunter Boots’ potential cash injection.

The company is reportedly looking to raise around 8 million pounds in fresh funding and has received “several proposals” from parties including global advisory firm Gordon Brothers, according to Sky News.

One source said Hunter could face a funding crisis if it doesn’t secure fresh capital in the short term. However, another source contradicted that, saying there “isn't a scenario where the business runs out of money”.

The company is also reportedly working with AlixPartners “on an accelerated sale process”.

Reports first emerged last month that Hunter was looking to secure new capital.

The bootmaker was rescued in 2020 via a 16.5 million pound capital injection amid poor trading further exacerbated by the pandemic.

Founded in 1856, Hunter has established itself as a quintessential British brand, securing two royal warrants and being worn by the likes of Kate Moss.

Sky quoted a source Monday as saying Hunter has been “performing well and looking for working capital to fund growth running at around 20 percent”.

They said Hunter’s majority shareholder Pall Mall “is supportive and the business has already received multiple offers for additional asset-backed financing at attractive rates”.

They added: “The sale process is happening in parallel and progressing well.”

Sky said a spokesman for Hunter declined to comment on the report.