Superdry drops to record low after it details restructuring plan
16/04/2024 08:46
** Shares of British fashion chain Superdry SDRY.L drop as
much as 33.3% to record low of 5.33 pence; among top losers
across London stocks
** Co announces a three-year restructuring plan and said a
fund raising backed by its CEO and co-founder Julian Dunkerton
would allow the company to delist from the London Stock Exchange
** Says it would have to enter administration if
restructuring plan is not implemented
** Plan would result in rent reductions and extensions to
maturity date of loans under its debt facilities
** SDRY adds trading conditions remain challenging
** Stock down 83.7% so far this year
(Reporting by Eva Mathews in Bengaluru)
((Eva.Mathews@thomsonreuters.com;))