Slumberland group raises pounds 524,000

Slumberland group raises pounds 524,000

FRENCH, the soft furnishing group which makes Slumberland bed products, is to place 1.31 million shares to raise pounds 524,000, it said yesterday. The shares have been privately placed with investors at 40p per ordinary share. The placing, subject to shareholder approval, would enable it to develop its UK businesses, reduce borrowings and provide additional working capital, the group said. It also said the loss declared at the interim stage would increase because of provisions.