The deal with Trafford Council was first announced at the start of 2020
The future of THG's plans to build a huge new head office at Manchester Airport is up in the air after a near £70m deal to finance its construction was cancelled.
According to newly-published Trafford Council documents, THG's debt facility "has now matured without any drawdowns for the main facility". THG and Trafford Council have been contacted for comment by the Manchester Evening News.At the time the debt facility was first announced, the new headquarters was due to be developed by Airport City Manchester.
Japanese technology investment giant SoftBank announced in October that it had sold its entire stake to THG co-founder Matthew Moulding and Qatar Investment Authority, the country's sovereign wealth fund. The move saw SoftBank make a £450m loss after it bought an 8% holding in THG in May 2021. Sales had also risen across its beauty, nutrition, ingenuity and on demand divisions while the group said it had made a "positive start" to the final quarter of the year.
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