Renewcell’s Investors, Lenders Step in With Near-Term Funding

Swedish textile recycler Renewcell has plugged a looming liquidity crunch with nearly $10 million in short-term funding from investors and lenders, the company said Wednesday.

The money is expected to provide the company runway for the coming months, but it still needs to secure longer-term funding in the new year, it said.

Renewcell has been under pressure since October, when a weaker-than-expected sales update sent its share price plunging…