Superdry CEO and top shareholder Julian Dunkerton has made headlines by contemplating a cash offer to acquire the remaining shares of the British retailer. This news caused Superdry’s shares to surge to levels not seen since October, following reports that US private equity company Sycamore Partners and Authentic Brands Group, owner of Ted Baker, have shown interest in the company. Additionally, the share price received a boost after Norwegian alternative investment fund First Seagull acquired a 5.3 per cent stake in the company.
In its statement, Superdry did not address the speculation about an external takeover, focusing instead on the potential cash offer by Dunkerton, possibly with financing partners. Dunkerton currently holds a 26 per cent stake in the company, which has faced challenges due to weak demand and financial difficulties. The stock, part of the FTSE small cap index, surged by as much as 127 per cent.
Superdry recently announced that it does not anticipate an improvement in market conditions in the near future following a difficult Christmas period. The company also revealed that its finance chief Shaun Wills is set to step down in March. Furthermore, there have been reports indicating that Superdry is exploring a significant restructuring plan, potentially involving numerous store closures and job cuts.
