Superdry’s shares have slumped 33% this year alone so it hopes the funding from Hilco Capital will improve its liquidity and play a crucial role in accelerating its turnaround efforts and ability to reduce its costs.
The arrangement with Hilco spans a period of 12 months initially, with the option to extend, and has an interest rate of 10.5%, coupled with the Bank of England base rate on the drawn element.
Go deeper with GlobalData
The agreement is an add-on to Superdry’s pre-existing asset-backed lending facility of £80m, including a £30m term loan over three years with the option to extend, with Bantry Bay Capital, made back in December 2022.
Founder and CEO of Superdry Julian Dunkerton’s attempt to rejuvenate Superdry’s performance came after the company announced its plan in March to sell its intellectual property assets in the Asia-Pacific region to South Korea’s Cowell Fashion Co in a £40.7m deal.
As part of the deal, Cowell, which has been listed on the South Korea stock exchange since April 2015, will own and use the Superdry brand in key APAC markets, starting in South Korea before extending to other regions including China, with Superdry and Cowell working together to develop products relevant for those markets.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
