Dan Finley Secures £40M for Debenhams Group Turnaround

Debenhams Group raised £40 million through a share placing after investor demand exceeded the initial £35 million target to fund its turnaround strategy.CEO Dan Finley, Mahmud Kamani, and Iain McDonald participated in the fundraising, with Mahmud Kamani investing £8 million and Iain McDonald resigning from the board.The retail group, which owns Boohoo and Karen Millen, expects to reach an adjusted EBITDA of £50 million for fiscal 2026 while focusing on an asset-light business model.