Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSuperdry Share News (SDRY)

Share Price Information for Superdry (SDRY)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 6.50
Bid: 6.00
Ask: 7.50
Change: 3.01 (86.25%)
Spread: 1.50 (25.00%)
Open: 3.24
High: 8.00
Low: 3.24
Prev. Close: 3.49
SDRY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

PRESS: Superdry could face emergency sale if restructuring is blocked

Tue, 21st May 2024 12:56

(Alliance News) - Shares in Superdry PLC fell after Sky News reported the ailing retailer could be forced into an emergency sale if creditor's block refinancing plans.

Shares in Superdry fell 2.7% to 6.46 pence in London on Tuesday.

Sky News said that the accelerated sale process would be launched if a restructuring plan is not approved by creditors in the coming weeks.

According to a document circulated to creditors in recent days and seen by Sky News, rejection of the restructuring plan would be followed by a four-week sale process for Superdry, with the likely outcome of a pre-pack administration deal.

https://news.sky.com/story/superdry-plots-emergency-sale-process-if-creditors-block-rescue-plan-13140589

In April, Superdry said that it would delist from the London Stock Exchange, and conduct an equity raise to provide liquidity headroom, amid ongoing cash problems.

According to Superdry, the equity raise will be structured in one of two possible ways: either via an open offer at 1.00p per share to raise gross proceeds of EUR8.0 million; or via a placing at 5.00p per share to raise gross proceeds of GBP10.0 million.

"I am aware of the implications for all our stakeholders, and I have sought to protect their interests as much as possible in the proposals we are announcing today. My decision to underwrite this equity raise demonstrates my continued commitment to Superdry, its stakeholders, its suppliers and the people who work for it. My passion for this great British brand remains as strong today as it was when I founded the business," said Chief Executive Officer & Co-Founder Julian Dunkerton said at the time.

Sky explained the restructuring plan would need to be approved by creditors, including landlords, in the coming weeks.

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
14 Jun 2024 15:17

TOP NEWS: Superdry to delist as shareholders back restructuring plans

(Alliance News) - Superdry PLC on Friday said shareholders have backed a planned equity raise as it battles to restructure its ailing finances.

Read more
1 Jun 2024 10:51

PRESS: M&G drops challenge to Superdry's rescue plan — Sky News

(Alliance News) - The landlord of Superdry PLC's flagship store will not formally seek to block a restructuring plan, which could have sent the ailing retailer on path for a four-week sale process.

Read more
21 May 2024 16:55

Superdry planning potential emergency sale process - report

(Sharecast News) - Superdry is reportedly preparing to run an emergency four-week sale process if creditors block its founder's plans to inject up to £10m of his own money into the fashion chain in a bid to stave off insolvency.

Read more
16 Apr 2024 12:14

Superdry plans to go private as it kicks off rescue plan

Shares drop to record low of 5.19 pence

*

Read more
16 Apr 2024 09:37

Superdry to quit stock market in far-reaching restructuring

(Sharecast News) - Superdry is to delist from the London Stock Exchange as part of a far-reaching restructuring plan, the struggling retailer confirmed on Tuesday.

Read more
16 Apr 2024 09:33

TOP NEWS: Superdry to leave London Stock Exchange amid restructuring

(Alliance News) - Superdry PLC on Tuesday said that it intends to delist from the London Stock Exchange, and will conduct an equity raise to provide liquidity headroom, amid ongoing cash problems.

Read more
16 Apr 2024 07:55

LONDON BRIEFING: DS Smith backs International Paper takeover

(Alliance News) - London's FTSE 100 has been called to open lower on Tuesday, following declines for Asian equities and a sizeable drop for US tech shares overnight.

Read more
15 Apr 2024 20:39

IN BRIEF: Superdry confirms "restructuring plan" is in the works

Superdry PLC - Cheltenham, England-based clothing retailer - Issues response to "media speculation regarding the possible implementation of a restructuring plan". Confirms that it is currently "in the advanced stages of preparing a restructuring plan", which it expects to launch "in the coming days". Notes however that there is no certainty that any such plan will be implemented. Company previously stated on January 29 that it was "working with advisors to explore the feasibility of various material cost saving options to help position the business for long-term success". It had explored the possibility of Chief Executive Officer Julian Dunkerton launching a takeover offer, but said on April 2 that this was "unlikely to deliver an outcome" that could "be executed in the context of the company's ongoing work on its turnaround plan and material cost saving options".

Read more
15 Apr 2024 17:25

London stocks fall as Middle East tensions weigh

Superdry falls on restructuring plan

*

Read more
2 Apr 2024 17:28

London stocks dip in global risk off mood; commodity-linked stocks jump

FTSE 100 down 0.2%, FTSE 250 adds 0.9%

*

Read more
2 Apr 2024 17:27

European stocks dragged down by healthcare; German inflation data in focus

German inflation eases to almost 3-year low

*

Read more
2 Apr 2024 14:09

Superdry tanks as CEO decides against rescue bid

(Sharecast News) - Shares in Superdry tanked by more than half on Tuesday after the struggling fashion retailer revealed that chief executive Julian Dunkerton had decided against making an offer for company.

Read more
28 Mar 2024 17:43

Superdry CEO Dunkerton decides against offer for struggling firm

(Alliance News) - Superdry PLC on Thursday said a takeover offer from Chief Executive Officer Julian Dunkerton is unlikely, but he remains committed to the company.

Read more
11 Mar 2024 12:37

PRESS: Struggling Superdry in talks for GBP10 million loan - Sky

(Alliance News) - Sky News on Monday reported that Superdry is in talks with Hilco for a new GBP10 million borrowing facility.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.