Struggling retailer announced decision by Julian Dunkerton after markets closed on Thursday
Superdry’s share price has been almost cut in half after its chief executive decided against making an offer for the struggling fashion retailer.
The company announced after markets closed on Thursday that Julian Dunkerton, the founder and chief executive of Superdry, had opted against a takeover after a two-month pursuit.
Continue reading...Founder Julian Dunkerton says being ‘cool again’ with TikTok generation helped turn previous £37m loss into £18m profit
Superdry is in talks with its banks to renegotiate up to £70m debt, the fashion retailer revealed on Friday, but investors shrugged off concerns to send shares soaring more than 14% as founder Julian Dunkerton announced a return to profit.
Dunkerton claimed Superdry “was cool again”, with strong demand from the TikTok generation for items such as parachute pants and Afghan coats, as he revealed pre tax profits of £18m, a bounce back from a loss of almost £37m a year before as sales rose almost 10% to £610m in the year to 30 April.
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Glympton Park is a sprawling, 2,000-acre estate featuring an 18th-century stately home, nestled in the verdant Oxfordshire countryside near Woodstock.
It was bought for £8m in 1992, by Prince Bandar bin Sultan bin Abdul Aziz al-Saud, the senior Saudi royal whose past roles include ambassador to the US. He is said to have spent £42m on renovations, including a pheasant shoot and bullet-proof glass on the driveway to thwart would-be assassins.
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