UK's Superdry dips as CEO drops buyout bid

Superdry

02/04/2024 08:23

** Shares of British fashion chain Superdry  SDRY.L  down
over 51% to record low of 13.80 pence; top loser across London
stocks 
    ** CEO and top shareholder Julian Dunkerton will not be
making an offer for the struggling company, both parties said on
March 28 
    ** If losses hold, SDRY set to post biggest one-day loss
ever
    ** Co says while a bid has been shelved for now,
alternatives remain open and adds it agreed to an extension of
six months and an increase of up to 20 mln pounds ($25.10 mln)
to its secondary lending facility with Hilco Capital
    ** Stock is down 70.7% in the last 12 months, and 99% from
2018 peaks of nearly 2,050p/shr amid cash crunch and demand
struggles 

($1 = 0.7967 pounds)
    

 (Reporting by Eva Mathews in Bengaluru)
 ((Eva.Mathews@thomsonreuters.com;))