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Superdry has no current plans to take the group private

Founder and CEO Julian Dunkerton of British fashion retailer Superdry, has no current plans to take the group private, the company said today following media speculation… View Article

FASHION

Superdry has no current plans to take the group private

Founder and CEO Julian Dunkerton of British fashion retailer Superdry, has no current plans to take the group private, the company said today following media speculation he was considering a move.

“While there has been speculation that he is considering taking Superdry private, he said that there were ‘no plans to do this at the moment’,” Superdry said.

The statement means that under UK takeover rules Dunkerton cannot make a bid for Superdry for six months unless another offer came in for the group or there is an agreement with the board.

Dunkerton holds 24% of the group’s shares, according to Refinitiv data.¬†Shares in Superdry, which¬†warned on profit last week, have fallen 41% over the last year.

The stock closed Wednesday at 118 pence, valuing the business at 96.4 million pounds.

Last month, Dunkerton suggested a new deal with the European Union would be needed to prevent further inflation rate hikes in the UK.

“A European Union free trade deal is essential and must be actioned as soon as possible if we are to stop inflation in its tracks.” he said.

He joined other executives in calling on the government to revise deals and do more in the wake of the British split from the European Union.

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