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business news | Hotel Chocolat Calls on Shareholders for £ 30 Million to Satisfy Hunger for Growth | Economic news

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Hotel Chocolat is asking shareholders for tens of millions of pounds in new equity as it contemplates a post-pandemic sales surge.

Sky News has learned that the company plans to announce a sale of shares to raise around £ 30million in the coming days.

The main institutional investors in Hotel Chocolat have reportedly been polled on the proposal in recent days.

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The boss of the Chocolat hotel says that some owners “don’t understand”

This will be the second time since the start of the pandemic that the retailer has raised funds from shareholders, announcing a £ 20million placement just days before the UK’s first foreclosure in March last year.

This capital increase was undertaken in order to finance the growth of the Hotel Chocolat rather than face financial difficulties, and the last sale of shares will have the same objective, according to a person close to the company.

Operating out of 126 stores in the UK and a number in Japan and the US, its growth has largely come from digital channels over the past 18 months.

In a business update last week, it said its recent performance has been strong, with its UK customer database increasing 66% to 3 million since December 2019.

Liberum bankers are said to be working on fundraising.

Shares of Hotel Chocolat were trading slightly higher on Thursday morning, giving the company a market value of around £ 460million.

A spokesperson for the Hotel Chocolat declined to comment.



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