The banks in the agreement are Lloyds Banking Group, The Royal Bank of Scotland and Santander.
The group continues to reduce its debt levels, which stood at £59.5m in December 2010 and were expected to have fallen to below £50m by the end of December last year.
In a pre-close trading statement the group also said that its results are expected to be “marginally below market expectations with the drycleaning division accounting for most of the shortfall.”
It explained that although drycleaning continued to introduce additional services and initiatives to stimulate revenue, the high street’s tough trading conditions have limited their impact.
The group added that textile rental continues to perform well with strong levels of customer retention and new contracts.
Summing up, executive chairman John Talbot said: “We expect to deliver a solid trading performance given the difficult market backdrop. We are delighted with the new banking facilities which demonstrate continued support from the three banks and provide increased headroom to make strategic acquisitions for the long term benefit of the business.”
