Superdry confirms discussions with investors regarding equity raise

Superdry has confirmed media speculation regarding discussions it has had with investors over a potential fundraising by the company.

In a statement, the brand said that it was “in positive discussions with certain institutional and other investors with regards to a proposed equity fundraising of up to 20 percent of the company’s issued share capital”.

Founder and chief executive officer, Julian Dunkerton, is intending to “significantly participate” in the raise and provide further “underwriting commitment”, which the company said reflected “his confidence in the long-term prospects of the businesses”.

It added that announcements regarding the fundraising would be made in due course.

Rumours of such a decision had been circulating among media platforms after Superdry had reported an expected drop in revenue for FY23.

In order to help cut costs, Dunkerton announced the sale of Superdry’s Asia Pacific intellectual property in March, as it looked to scrape together additional funds to aid in its turnaround strategy.

It followed the news earlier in the month that the British firm had called in Interpath Advisory to boost its cost cutting efforts amid “challenging market conditions”.