The news comes shortly after shareholders voted in favour of proposals including a £10m ($12.67m) equity raise to avoid insolvency.
Superdy’s last day of trading on the main market was Friday 12 July and its delisting came into effect at 8am on Monday 15 July.
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Going forward, shares in Superdry will be traded on the JP Jenkins securities matching platform.
In a statement, Superdry said: “The provision of the matched bargain facility will be kept under review by the Board and, in determining whether to continue to offer a matched bargain facility, the Company shall consider expected (and communicated) shareholder demand for such a facility as well as the composition of the Company’s register of members and the costs to the Company and shareholders.”
Starting from 15 July, Delisting, Peel Hunt LLP will also cease to act as sponsor, financial adviser and corporate broker to Superdry.
The delisting is part of a restructuring plan previously approved by Superdry’s shareholders.
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By GlobalDataAs the plan was announced, Peter Sjӧlander, the retailer’s chairman, said: “This is an important moment for Superdry. My thanks and those of the entire board go to the shareholders and creditors of Superdry who have supported the proposals, which will enable the business to go forward with the right structure, balance sheet and cost base to deliver its turnaround and future growth.”
GlobalData associate apparel analyst Alice Price previously told Just Style that Superdry’s recent struggles were “no surprise” after years of lacklustre results.
She suggested: “The brand should look to the likes of Hollister and Abercrombie for insight into how to successfully turnaround a struggling business, after both brands managed to shake off their outdated early 2010s aesthetic to regain relevance among fashion-forward Gen Z and millennial shoppers.”
Since the start of 2024, Superdry has faced a number of financial struggles.
In April, the retailer announced that it was continuing discussions with its co-founder in respect of “alternative structures”, including a possible equity raise fully underwritten by Julian Dunkerton as the bid came to an end.
