13 Jun 2009

Pacific Brands raises another $92m

9:37 am on 13 June 2009

Retailer Pacific Brands says it has raised $92 million through a retail component of an entitlement offer.

The company says the equity raised will improve the balance sheet and provide more flexibility to withstand any more softening in the retail sector.

The retail component of the offer follows the completion of the institutional placement, which raised $164 million.

The company, which makes Holeproof socks and Bendon bras, has been axing brands and jobs and closing plants to cope with falling demand and to repay debt.