Superdry founder seeks funds for delisting

After an eventful week, Superdry founder Julian Dunkerton admits that he is working to take his company off the stock market. The CEO wants to take over his company completely, but is still looking for funding.

Back to square one

Following news that the clothing chain had asked consulting firm Pwc to look at restructuring options, rumours were soon buzzing. A Norwegian fund and Authentic Brands Group (Quiksilver, Reebok and others) are said to be interested in acquiring the ailing company.

The share price suddenly doubled, after months of declines, and it may be precisely this volatility that Dunkerton wants to get rid of by delisting the fashion brand. The founder says he is in talks with potential lenders to get hold of the 74 % of remaining shares. By 1 March at the latest, the CEO must make an official takeover offer. He hopes that in private hands, the company could make more drastic cuts and reforms, without having to be accountable to investors. Superdry earlier announced plans to cut forty million pounds in costs this year.