Superdry in negotiations with lender Hilco for £20m loan increase and potential share acquisition by CEO Julian Dunkerton.
Superdry, a struggling British fashion retailer, is in talks with lender Hilco for an increase of approximately £20m in its lending facilities. The additional funds are intended to provide Superdry with extra liquidity and assist in the implementation of its turnaround plan and cost reduction programme. The company also seeks an additional £10m to cover seasonal working capital peaks, as well as a six-month extension to the maturity date of its facilities with Hilco until 7 February 2025. Superdry's CEO and top shareholder, Julian Dunkerton, has been exploring options for the company, which may include a cash offer for shares not already owned by him.
March 11, 2024
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