In May 2021, Hotel Chocolat Group received funding from UK Government and decided to repay coronavirus job retention. The company’s revenue for the eight-week period went up 19% compared to what it was in 2019. In June 2021, the company announced the acquisition of loss-making beauty products Joint Venture.
From April to June, group sales grew 34% and revenue went up to 21%. In 2021, the company expects over 50% of sales coming from partners, digital, and subscription-continuity models. On July 22, Hotel Chocolat Group announced that the company aims to raise up to £40M through placing a discounted share. The share is announced to be priced at £3.55.
The company secured a two-year revolving credit facility of £30M with Lloyds Bank as well. It will replace an undrawn £25M covid-19 big business disruption loan scheme of the government. On Thursday’s close, HOTC shares declined more than 1%.