Superdry boss explores potential sale
The founder of Superdry, Julian Dunkerton, has reportedly held talks with private equity firms over a potential buyout of the fashion brand, according to The Times.
Conversations have taken place this year over a potential deal that would involve Dunkerton, who owns 23.9%, rolling his stake into a new private vehicle.
After dropping 60% this year, shares in Superdry closed on Friday near a record low, valuing the business at £86 million. One source told The Times that “Dunkerton thinks it’s super-cheap".
A source also said that there were no active talks on a take-private deal and no advisors have been appointed for a potential sale.
The news follows Superdry's plan to refinance its existing lending facility with a £70 million deal from a fund backed by US activist investors Elliott Advisors.
Superdry currently operates 740 stores across 61 countries and employs over 2,500 people in the UK and Ireland. In a quarterly report published last month, Superdry’s directors acknowledged that there was material uncertainty over the company’s ability to continue as a going concern until the funding was secured.
Superdry returned to profitability and reported an increase in revenues for its full year results, ending 30 April 2022. The fashion brand revealed an adjusted profit before tax of £21.9 million, compared to a loss of £12.6 million in FY21.
TheIndustry.fashion has reached out to Superdry for comment.