founder about a bid for the chain, Sky News reports
19/02/2024 18:36
(Adds background in paragraph 2 and 3, details from the report
in paragraph 4 and disclosure in paragraph 5)
Feb 19 (Reuters) -
U.S. asset manager Davidson Kempner, owner of Britain's Oak
Furnitureland, is in discussions with British fashion retailer
Superdry SDRY.L co-founder Julian Dunkerton about backing an
offer for the clothing company, Sky News reported on Monday,
without citing a source.
The talks are at a preliminary stage and there is no
guarantee that Davidson Kempner will ultimately sign an
agreement with Dunkerton, the report added.
Superdry declined to comment, while Davidson Kempner did
not immediately respond to a request for comment.
Dunkerton, who is the company's CEO and top shareholder, was
also in talks with RCapital and Gordon Brothers over a bid to
take the troubled retailer private, Sky News reported earlier
this month.
Superdry has battled weak demand for its jackets and
clothing, as well as a cash crunch. It said in January that it
does not expect market conditions to improve in the near term
after group sales fell 13.7% in a
tough
Christmas quarter.
Superdry's stock dropped 73% in 2023.
(Reporting by Disha Mishra and Juveria Tabassum in Bengaluru;
Editing by Leslie Adler and Cynthia Osterman)
((Disha.Mishra@thomsonreuters.com;))