(Sharecast News) - Fashion retailer Superdry has reportedly drafted in a leading firm of City advisers to help it cut costs after a string of profit warnings.
According to Sky News, the company - headed by founder Julian Dunkerton - has hired Interpath Advisory to address its cost base, which analysts speculated could lead to a number of job cuts.
City sources told Sky that Interpath's work was likely to encompass plans for Superdry's troubled wholesale business and would include engaging with Bantry Bay, the firm which extended financing worth up to £80m to the retailer in December.
A spokesperson for Superdry told Sharecast: "While Superdry has seen strong store and online trading and the brand continues to resonate with consumers, these are challenging market conditions for all brands in the fashion sector.
"We have engaged Interpath to advise us as we work to complete the turnaround of Superdry in today's much changed retail environment, and ensure we have the right cost base and structure in place for future success."
Superdry (SDRY)
