Superdry CEO Dunkerton explores options for embattled retailer (updated)
02/02/2024 11:18
(Adds details in paragraph 3; background in paragraphs 4-5)
Feb 2 (Reuters) - Superdry's SDRY.L top shareholder
and CEO, Julian Dunkerton, is looking at a cash offer for the
shares not already owned by him, among other options, for the
embattled British fashion retailer.
Shares of the company more than doubled to 43.2 pence on
Friday, leading gains across London stocks.
"These discussions are at a preliminary stage and no
decisions have been made," Superdry said in a statement.
Dunkerton holds a 26% stake in the company, which is
grappling with weak demand and a cash crunch.
Last week, Superdry said it does not expect market
conditions to improve in the near term after a tough Christmas
season, adding that its finance chief Shaun Wills will step down
at the end of March.
(Reporting by Eva Mathews in Bengaluru; Editing by Sriraj
Kalluvila)
((Eva.Mathews@thomsonreuters.com;))