UK fashion chain Superdry has shored up its finances with a new £70m lending facility from its banks to see it through the Covid-19 crisis. The news has sent its share price up by nearly 14% this morning to 134.3p. The retailer, known for its brightly coloured hoodies and T-shirts emblazoned with Japanese script, said the lending facility, agreed with HSBC and BNPP, would run until January 2023, replacing one that was due to expire the year before. While sales at Superdry were down 24.
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Meanwhile, massive flooding taking place in China's agriculture region. Crops destroyed. Huge migration of population to avoid flooding. No food. Denied United States PPE and pharmaceuticals. People have to eat. Tables have turned.
What economic recovery hopes?