Superdry boss denies plans to take business private
According to Refinitiv data Dunkerton holds 24% of the group’s shares
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Superdry founder and CEO Julian Dunkerton has announced that he has no plans to take the company private following media reports it was a possibility.
This statement now means that under UK takeover rules Dunkerton cannot make a bid for Superdry for six months unless another offer comes in for the group or there is an agreement with the board.
In a regulatory update Superdry stated: “”While there has been speculation that he is considering taking Superdry private, Dunkerton has said that there were ‘no plans to do this at the moment’.”
According to Refinitiv data Dunkerton holds 24% of the group’s shares.
Shares in Superdry have fallen 41% in the last year and the company warned on its profit in a trading update last week. The stock closed on Wednesday at 118 pence per share valuing the company at £96.4m.
The news comes after it revealed it recorded an adjusted loss before tax of £13.6m for the 26-week period ending 29 October 2022, and as such has lowered its FY profit guidance from £10-£20m to breakeven.
