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Superdry is believed to have appointed accountancy firm PwC to explore its debt options, Sky News has revealed.
The clothing retailer is supposedly working with advisers from the firm to review the funding options following a pre-Christmas profit warning.
The news comes after Superdry reported YoY sales decrease of 13.1% in H1 2024, which the company blamed on an “abnormally mild Autumn”. Wholesale was also down 41.1%, a result which the retailer expected due to the decision to exit its US wholesale operation.
Superdry now expects full-year profits to reflect the weak trading, despite taking action to support the balance sheet with £25m funding from Hilco Capital Limited to “help the implementation of the turnaround plan”. The retailer has also received £35m in cost savings as well as £28.3m funding to support the balance sheet further.
Sky News has reported speculation that Dunkerton, who owns a quarter of the retailer’s shares, is looking to make the company private.
Superdry has declined to comment on the news.
