May 4, 2020 / 6:34 AM / a month ago

Britain's Hotel Chocolat bolsters finances to get through coronavirus crisis

FILE PHOTO: Hotel Chocolat products are seen on sale at Rabot 1745, in London, Britain December 1, 2017. Picture taken December 1, 2017. REUTERS/Peter Nicholls

LONDON (Reuters) - British chocolatier Hotel Chocolat (HOTC.L) has increased its banking facilities to help get it through the coronavirus crisis, it said on Monday.

The firm said it had agreed a 35 million pounds ($43.5) million) revolving credit facility with Lloyds Bank (LLOY.L), replacing a 10 million pounds overdraft. The new facility follows a 22 million pounds equity placing in March.

Hotel Chocolat closed all its stores on March 23 in line with the UK lockdown. It said this had a material impact on Easter trading but was partly mitigated by online sales.

Reporting by James Davey; editing by Sarah Young

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