British fashion brand Superdry delists from London Stock Exchange as part of a 3-year restructuring plan due to weak demand and cash shortages.
Superdry, a British fashion brand, is delisting from the London Stock Exchange as part of a three-year restructuring plan amid challenging trading conditions. Struggling with weak demand and cash shortages, Superdry's CEO and co-founder Julian Dunkerton is leading the fundraising efforts, which include an open offer to raise £8.49 million ($8.49 million) or a placement to raise £10 million. The restructuring plan involves material cash savings from rent reductions at stores and extended maturity of loans. It is dependent on the successful completion of the equity raise, with shareholder approval required. If the plan is not implemented, Superdry may enter administration.
April 15, 2024
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