Superdry boss Julian Dunkerton has dismissed rumours he is seeking deals to take the brand private. 

Julian Dunkerton

Julian Dunkerton says he has ‘no plans’ to take Superdry private

The leisurewear co-founder has confirmed in a statement to investors that, despite stories circulating in the press suggesting he intended to pursue a private equity deal, he had “no plans to do this at the moment”. 

According to The Sunday Times in December, Dunkerton had reportedly been looking at a deal that would roll his 21.7% stake in the business into a private vehicle.

The report claimed that a source close to the retailer said Dunkerton was cautious of agreeing any deal that would increase Superdry’s debt at a time when inflation is soaring and the economy is so turbulent. 

However, the source also noted there were no active talks on a take-private deal and no advisers had been appointed.

The report came as the London-listed retailer’s shares plummeted 60% in the year to date to a near-record low, valuing the business at £86m.

Last week, Superdry reported a fall in first-half profits. Even though its Christmas performance had strengthened, it also cut full-year expectations to breakeven.

Superdry attributed an interim adjusted pre-tax loss of £13.6m – up from a loss of £2.8m in the comparable period of the previous year – primarily to a drop in wholesale alongside a return to normal rents and rates post-Covid.

Group revenue rose 3.6% to £282.2m in the first half to October 29, 2022. Over the nine-week Christmas period to December 31, group sales rose 4.5%.

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