RE: Help a little confused16 Jun 2024 22:31
Superdry has secured shareholders' support for a turnaround plan under which the clothing chain will quit the stock market after 14 turbulent years as a public company.
Investors have backed a £10 million lifeline allowing Julian Dunkerton, the fashion retailer's co-founder and chief executive, to inject fresh equity and stave off a full insolvency.
Superdry's shareholders will be diluted in the transaction but will remain investors in the company when it delists from the London Stock Exchange. Landlords supported rent reductions on 39 of its 93 British stores in a vote this week. Shares in Superdry soared after the deal was agreed, closing at 6½p after a rise of 3p, or 86.3 per cent.