Superdry calls in advisers following profit warning
Struggling fashion retailer Superdry has called in advisers to explore its financial options, following a pre-Christmas profit warning.
The retailer – which saw its shares fall to a record low last month – has appointed PricewaterhouseCoopers (PwC) examine further debt-raising options, Sky News has reported.
In a trading update released just before Christmas, Superdry had blamed milder-than-expected Autumn weather for lower sales. The results had capped off a year in which the retailer had undertaken a number of measures to strengthen its balance sheet.
Superdry already has at least £100m in debt facilities available to it, through partnerships with Hilco and Bantry Bay Capital.
It has previously been speculated that Superdry’s founder, Julian Dunkerton, plans to take the retailer private. In February 2023, Superdry responded to press speculation, with Dunkerton denying that he planned to delist the company.
In March, he then drafted in restructuring firm Interpath Advisory in a bid to reverse the retailer’s fortunes.
Superdry has not yet provided an update on its Christmas trading, although some analysts believe that colder weather may have contributed to a boost in sales, Sky News reports.