Superdry founder in talks with investors over take-private deal
Investors consider Superdry to be ready for a bid, following a succession of profit warnings over the last year knocking down its share price
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Superdry CEO and co-founder, Julian Dunkerton, is reportedly in talks with investors as he eyes a takeover deal that could see the London-listed fashion retailer become private, Sky News has reported.
According to Sky, Dunkerton has held discussions with Gordon Brothers, which owns Laura Ashley, and Rcapital, which previously owned Paperchase, over a potential deal.
The news comes after Superdry confirmed on Friday (2 February) that Dunkerton, who owns a 20% stake, “is engaged in discussions with potential financing partners” to fund a cash offer for the business.
However, the retailer maintained that talks were at a preliminary stage and no decisions have yet been made.
Speculation about a possible take-private deal increased this week after it was found that Norwegian hedge fund First Seagull had acquired a 5.3% stake in the hope of a buyout.
It is understood that investors consider Superdry to be ready for a bid, following a succession of profit warnings over the last year knocking down its share price.
As a result, Dunkerton has until close of business on 1 March to announce whether he intends to make an offer for Superdry.
Dunkerton revealed last week that Superdry is facing a “difficult” period ahead after it posted widening losses.
Superdry is currently working with PwC advisers to explore options, including a company voluntary arrangement or other forms of restructuring, under a move that could lead to job cuts and store closures.
