No plans to take Superdry private says CEO

The founder and CEO of fashion retail giant Superdry has said that there are no plans to take the company private.

In a statement published in the wake of reports that the company was eyeing an IPO, the company said: "Julian Dunkerton, founder and chief executive officer of Superdry plc (“Superdry“), notes recent press reports that, while there has been speculation that he is considering taking Superdry private, he said that there were “no plans to do this at the moment”.

The statement adds that this declaration means that Dunkerton cannot make a bid for Superdry for a period of six months. The only conditions where this could be changed would be in the event that another offer came in for the group or if there is an agreement with the board.

Dunkerton currently owns just shy of a quarter of Superdry’s shares.

The retailer last week issued a profit warning for 2023, saying that the company expects to only break even this year. It cited a 5.2 per cent decline in half-year wholesale revenue, despite a positive festive period.

In comments to Reuters at the time, Dunkerton said: “We don't expect market conditions to become easier any time soon, but with a new financing package in place and the brand in great health, we approach the year ahead with optimism.”

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