Superdry chief Julian Dunkerton rules out takeover bid… for now
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Superdry boss Julian Dunkerton insists he has no plans to take the fashion company private for the time being
The Superdry founder has maintained he has no plans to delist the fashion company ‘at the moment’.
Chief executive Julian Dunkerton has tried to dismiss speculation that he might consider a bid for the fashion group he founded in 2003.
The Cheltenham retailer’s share price has taken a hit in recent years – it’s down more than 90 per cent since the start of 2018, fueling speculation that Dunkerton may be looking to buy it.
But Superdry told the exchange: “While there is speculation he is considering delisting Superdry, he said there were “no plans to do so at this time”.
Shares of the brand, known for its hoodies and jackets that David Beckham and Idris Elba once flaunted, rose 4.1 percent or 4.8 pence to 122.6 pence.
Considering an offer? Julian Dunkerton (pictured with wife Jade Holland Cooper) has dismissed speculation he was considering a bid for the fashion group
Under takeover rules, the statement means that Dunkerton cannot bid for the brand for six months unless there is another offer for the group or an agreement with the board.
Superdry lowered its 2023 earnings forecast last week to break even. It made a £17.7m pre-tax loss in the 26 weeks to October 29.