Superdry co-founder Julian Dunkerton hopes to call an extraordinary general meeting to win a seat on the retailer’s board.
Dunkerton is working with his advisers to call the meeting where shareholders would vote on whether he should be reinstated as a director, Sky News has reported.
He might also attempt to remove Superdry chair Peter Bamford and chief executive Euan Sutherland.
An EGM would be the latest offensive in the showdown between Dunkerton, who left Superdry earlier this year but still owns an 18% stake, and the company’s leadership.
Dunkerton has been critical of the strategy implemented at Superdry – shares have fallen steeply this year and it has warned on profits.
An attempt to call for an EGM might come early in next year and is viewed by Dunkerton’s allies as “the most likely option”, Sky News reported.
However, Dunkerton will only proceed is he is sure that there is broad shareholder support for his reinstatement.
He was reported to be open to the idea of returning to Superdry as interim chief executive but does not want the job on a permanent basis, a friend told Sky News.