Superdry has ‘no intention’ of going private yet

In a recent regulatory announcement by Superdry, the founder and chief executive officer of the brand, Julian Dunkerton, clarified that the company has “no plans” to go private at this moment.

The announcement further mentioned that Dunkerton could make or participate in an offer for Superdry within the next six months following this, but with agreement of the company board.

This speculation started making rounds weeks before Superdry secured an GBP80m (US$96.5m) loan ahead of its expiry in January 2023. The company had been negotiating with Bantry Bay Capital Limited, the specialist lending provider, to replace the existing up to GBP70m asset-backed lending facility.

Last week, the UK fashion retailer reported ‘strong’ Christmas trading results with retail revenue up 24.9%, but with adjusted FY23 outlook to broadly break even due to increasing uncertainty for Q4.

Shares of Superdry were up +6.70 (5.69%) today since the announcement.

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