Five-a-side football pitch operator Goals Soccer Centres is in “advanced” talks over a new £42.5 million loan facility that will help to reduce interest charges on its debt by more than £1m a year.
However, the East Kilbride-based firm said the debt restructuring would lead to would lead to one-off costs of £3.2m, including a £2.7m liability from its interest rate swap.
Details of the refinancing came as Goals, which has 44 sites across the UK and one in Los Angeles, said total sales in the six months to the end of June grew 3 per cent to £17m, in line with the board’s expectations.
Goals bought a centre in Newcastle in March and is on course to add four more sites, including one in the US, by the end of next year. The firm raised £11m in a recent share placing to fund its expansion plans.
Managing director Keith Rogers said: “Goals operates in a resilient market place with a favourable price point and a market-leading position. The board remains confident of continued progress in 2014 and beyond.”
The company is due to report its interim results on 3 September.