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Superdry shareholders back proposed equity raise

Superdry’s shareholders have approved plans for an equity raise and delisting as the fashion retailer looks to ensure its survival. The news follows creditors approving a… View Article

FASHION RETAIL NEWS UK

Superdry shareholders back proposed equity raise

Superdry’s shareholders have approved plans for an equity raise and delisting as the fashion retailer looks to ensure its survival.

The news follows creditors approving a proposed restructuring plan.

In a statement after the general meeting on 14 June, Superdry said shareholders had taken into account a number of factors, including the company’s liquidity requirements, the interests of creditors, participation in the offer, and the level of support for the resolutions.

Superdry said the £10 million proceeds from the placing provided “greater comfort” that the company will have sufficient liquidity headroom to implement its turnaround plan, particularly in light of the challenging economic environment.

Peter Sjolander, Superdry chairman, said: “I am pleased that our shareholders have supported the proposed equity raise and would like to thank those shareholders who voted in favour of the proposals before them today.

“This is a crucial step towards delivering the restructuring of the business and ensuring that Superdry is in the best possible shape to complete its recovery and return to growth.”

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