Superdry CEO denies plan to take company private

Julian Dunkerton, founder and chief executive officer of Superdry, has refuted claims that he is planning to take the company private.

In a statement published by the London Stock Exchange, Dunkerton said that “while there has been speculation that he is considering taking Superdry private”, there were “no plans to do this at the moment”.

The announcement follows a string of media reports that speculated Dunkerton was considering selling the UK business after its share price took a hit last year.

A report by The Times stated Dunkerton, who currently owns 23.9 percent of the business, had held talks with private equity firms regarding the potential sale.

Rumours began circulating around the time Superdry secured an 80 million pounds loan ahead of its expiry in January 2023, replacing its existing asset-backed lending facility with Bantry Bay Capital.

However, with this new statement, Dunkerton cannot make a bid for Superdry for six months under UK takeover law unless there is an agreement with the board or another offer from a third party.

While the company had reported a series of issues coming as an offset of the pandemic, Superdry’s most recent trading has shown some signs of recovery.

Last week, the brand reported positive Christmas trading results, with retail revenue up 24.9 percent, however it lowered its FY23 outlook in light of underperforming wholesale.