UK online clothing retailer N Brown has secured the support of shareholders for its plans to raise GBP100m (US$133m).

"Whilst we are mindful of the ongoing uncertainty of the UK retail environment, we are confident we can continue to build on the unique strength of the group's brands and remain focused on creating a sustainable business delivering profitable growth over the long term," said CEO Steve Johnson.

The company has received valid acceptances from qualifying shareholders under their open offer entitlements in respect of 60,018,958 open offer shares – representing around 34%. 

As previously announced at its general meeting on 23 November 2020, the company intends to move to trading on AIM, the London Stock Exchange's growth market.