Superdry confirms fundraising efforts
2nd May 2023 | Jack Oliver
Struggling clothing retailer Superdry has responded to press speculation with a confirmation that is undergoing discussions with investors with regards to a proposed equity fundraising.
The fundraising is worth circa 20% of the company’s issued share capital, with Superdry confirming that its founder and CEO Julian Dunkerton intends to “significantly participate” in the equity raise and will provide a material underwriting commitment.
The retailer said this reflected his “confidence in the long-term prospects of the business”.
Superdry called in advisers in March after multiple profit warnings, and withdrew its profit guidance for its 2023 financial year in April after a period of slower-than-anticipated growth.