Superdry appoints advisers to help cut costs

Superdry has appointed Interpath Advisory to help it cut costs after a number of profit warnings, according to reports from Sky News.

Interpath is expected to focus on Superdry’s cost base and industry experts told Sky that this could cause a number of job losses.

The company will also likely look at plans for Superdry’s troubled wholesale business which would include engaging with Bantry Bay, the firm which gave financing worth up to £80m to the retailer in December.

Superdry said in a statement: “While Superdry has seen strong store and online trading and the brand continues to resonate with consumers, these are challenging market conditions for all brands in the fashion sector.

“We have engaged Interpath to advise us as we work to complete the turnaround of Superdry in today’s much changed retail environment, and ensure we have the right cost base and structure in place for future success.”

Superdry has seen its shares crash by more than a quarter over the last year amid doubts about its future and Friday the company had a market cap of just over £100m.

There have also been persistent rumours that founder Julian Dunkerton might make an offer to take the company private, however he released a statement last month shutting down that speculation.