Mulberry (GB:MUL) has released an update.
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Mulberry Group PLC, a renowned British luxury brand, has reported a 4% decline in annual revenue and a substantial loss before tax, indicating a challenging year for the luxury sector. To address financial challenges and support future growth, the company has initiated a capital raising effort to secure approximately £10.75 million. This includes a £10 million subscription by their majority shareholder and a retail offer aiming to raise £0.75 million, all while welcoming a new CEO who is set to implement a strategy for recovery and growth.
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