Superdry founder in talks with US investor for take private deal
The company also has more than £100m of borrowings, after securing funding from Bantry Bay Capital and Hilco
Superdry founder Julian Dunkerton is reportedly in talks with US investor Davidson Kempner as he seeks to put together a deal to take the company private, according to Sky News.
The outlet said talks are at a preliminary stage and there is no guarantee that Davidson Kempner will agree to anything.
The US company has backed a number of UK firms before including Jojo Maman Bebe and Oak Furnitureland, as well as holding a slug of debt in New Look.
It is one of a number of firms considering Dunkerton’s proposal, others include Retail Realisation, a firm backed by the founder of turnaround investor Rcapital.
Dunkerton is looking to acquire the majority stake in Superdry that he does not already own, despite the company considering cost cutting measures like job cuts and even a potential CVA.
The company also has more than £100m of borrowings, after securing funding from Bantry Bay Capital and Hilco.
The news comes after Superdry reported YoY sales decrease of 13.1% in H1 2024, which the company blamed on an “abnormally mild Autumn”.
Wholesale was also down 41.1%, a result which the retailer expected due to the decision to exit its US wholesale operation.
