Superdry has secured an £80m new loan facility before a January deadline as it warns of “extremely challenging” trading conditions in the UK leading up to Christmas. The fashion brand and retailer warned in October that “a material uncertainty exists” as to whether it would remain a going concern as it negotiated the new debt facility. On Thursday, it said it had agreed a new loan including a £30m three-year deal with specialist lender Bantry Bay Capital, a firm backed by the hedge fund Elliott Advisers, but admitted it had to pay a much higher interest rate than on its £70m facility, which was set to expire in late January “given market conditions”. Shares in the company jumped more than 15% on the news, which comes as a number of retail businesses are struggling to secure new borrowing facilities due to fears of a consumer downturn and rising interest rates. Retailers including Matalan and Wilko have sought to raise new cash – with Elliott or Bantry Bay thought to be involved in both sets of discussions – while online specialists such as Asos and Boohoo are thought to be struggling to adapt to a slump in online demand as shoppers rein in spending on nonessentials as energy and grocery bills soar. Julian Dunkerton, the founder and chief executive of Superdry, said that “extremely challenging” trading conditions “weren’t helped by the unseasonably warm weather in October and into November”. He added: “We are under no illusions that consumer confidence is fragile and that the picture is unlikely to change quickly.” However, he said the company was “very pleased” to have completed its refinancing which meant the business was “in good shape as we trade through our important Christmas trading period”. Dunkerton said the company had traded well since the end of October with a return to cold weather and “record levels of jacket sales over the Black Friday period”. That came after Superdry increased sales by 3.6% in the six months to 29 October as shoppers flooded back into stores – lifting instore sales by 14.4% – and continued to buy online. However, wholesale sales slid 5.2%, partly because of low demand during a warm October, and profit margins slumped 2 percentage points partly because of the pressure on wholesale demand. “Our [autumn-winter] collection has been really well received by customers, especially our jacket range and party dresses, and it’s great to see store sales recovering well. I am also encouraged with how we have started the second half,” Dunkerton said.