Superdry enlists advisers PwC as profits dwindle
The struggling fashion retailer, Superdry, has hired advisers from PricewaterhouseCoopers (PwC) to examine debt-raising options prior to announcing its Christmas trading updates.
According to Sky News, the retailer has appointed one of the big four accountancy firms to advise on its finances in the wake of a pre-Christmas profit warning.
This comes just weeks after Superdry's shares sank to a record low, blaming an "abnormally mild autumn" for delaying outerwear sales and causing a "challenging trading environment". In December, the company, best known for its logo-emblazoned hoodies and T-shirts, warned of a hit to its full-year profitability for FY24.
However, the company detailed several steps it took to strengthen its balance sheet. These included a modest equity raise and brand licensing deals in Asia-Pacific and India.
On Tuesday, shares in Superdry were trading at around 29.95p, giving the company a market capitalisation of less than £30 million.
Over the past year, there has been speculation that Superdry's Founder, Julian Dunkerton, would take the company private. This came after he appointed Interpath Advisory, a restructuring firm, to advise on its "cost base and structure".
Superdry is yet to publish its Christmas trading updates, however, the recent flux of cold weather could've given the struggling retailer a financial boost.
