The creator of Superdry, Julian Dunkerton, has said that he has no intention of making an offer for the floundering British retailer, thus ending the offer period.
Dunkerton and the company’s transaction committee came to the conclusion that the company’s current turnaround strategy and meaningful cost-saving possibilities could execute such a move, and that it was “unlikely to deliver an outcome for shareholders, or stakeholders more broadly.”
The takeover agreement may have ended, but according to the regulatory filing, the firm and Dunkerton continued to talk about other arrangements, such as “a possible equity raise fully underwritten” by Dunkerton, in order to free up more cash.
Furthermore, the board has announced the hiring of Giles David as an interim chief financial officer, effective 1st April, to support the continuing review.
Though David began his career with Marks & Spencer as divisional finance director, he held chief financial officer positions at several other companies, including McColl’s Retail Group, Casual Dining Group, Wiggle, and United House.
He takes over for Shaun Wills, who announced his resignation in January following Superdry’s half-year sales performance, which came weeks after the company had issued a profit warning for the year.
Superdry also disclosed that, in addition to these announcements, it had obtained from Hilco Capital Limited an extension and increase to its secondary lending facility, which, according to a separate filing, would give the business “improved liquidity headroom” to aid in the execution of its turnaround plan.
As a result, Hilco’s facility will remain open for business for an extra six months, until 7th February 2025. £ 10 million will also be made available right away, with an additional £ 10 million to be made available for the peak working capital period in September and November.
Bharat Tex Special Report 2026 
