The Grand Old Duke of York6 May 2024 22:40
He marched Superdry up to the top of the hill.
And he marched it down again.
JD is understandibly not universally admired on this blog, not least because he has overseen a monumental collapse in the company's share price. The investment journey to date has been futile.
And the exclusivity for the share placing (option B) raises at least some suspicion about his intentions.
Is it just a clever plan to place a floor under the share price to keep the open offer viable. If so it has thus far been successful. Or is it a rather clumsy attempt to wrest control of the company on the cheap!
But the share price plunge has hurt the CEO, too. And without his vested interest the company would surely be more likely to enter administration.
I don't wish to sound like some raving leftie merrily dispensing harmonious thoughts all day long, but I do believe people matter.
So if JD can deprive the vultures from walking away with just the assets of Superdry, leaving everyone else, including shareholders and employees, with absolutely nothing, then I say hurrah to that.
The recent spell of cold and wet weather should in theory have provided a net boost to UK sales at a company principally known for its coats and the label Superdry. Even if trading in summerwear, such as shorts and flip flops, has taken a hit.
Here's hoping the grand old duke can turn things around.