Superdry founder in talks with US investor about taking retailer private
Superdry founder and chief executive Julian Dunkerton is understood to be in discussions with US investor Davidson Kempner about the backing of an offer for the struggling fashion chain.
The news follows reports earlier this month that Dunkerton held initial discussions with Rcapital and Gordon Brothers about helping finance an offer. Dunkerton currently owns just under a 30% stake in Superdry.
According to Sky News, the talks with Davidson Kempner are at an early stage with no guarantee that it will sign an agreement with Dunkerton.
Davidson Kempner has backed several UK retailers including Oak Furnitureland and Jo Jo Maman Bebe.
Last month, Superdry said its group revenue had declined by 23.5% year-on-year to £219.8 million in the 26 weeks to 28 October as it struggled against challenging trading conditions. Sales were also impacted by unseasonal weather and the underperformance of its wholesale division.
