Card Factory scrambling to raise rescue cash

Card Factory is scrambling to raise rescue cash after sales were hammered by the third lockdown, according to reports. 

The retailer has hired restructuring experts at Deloitte to oversee the financing, which it hopes will raise around £100m. 

Struggling: Card Factory tends to make most of its sales in-store rather than online

Deloitte held talks with specialist lenders but is now understood to be speaking to banks that already back Card Factory. 

The gifts group has already arranged changes to terms and conditions with its lenders this year. 

It tends to make most of its sales in-store rather than online.