The founder of Superdry, Julian Dunkerton, is reportedly in talks with US private equity firm, Davidson Kempner, about a potential rescue of the ailing fashion retailer.
Talks are in the early stages, with no firm commitment from Davidson Kempner at this point, according to Sky News.
The US investor, which owns Swindon-based Oak Furnitureland, joins a roster of firms eyeing up Dunkerton’s proposals as the British businessman attempts to rejuvenate Superdry.
Other potential suitors include Retail Realisation, supported by the founder of turnaround investor Rcapital.
Earlier this month, Superdry confirmed it was in ongoing discussions with various parties regarding a possible takeover deal to safeguard the brand’s future, sending shares up 100 per cent.
It came after the firm said it was plotting a major restructuring which could lead to shuttered stores and job cuts.
It has been exploring options with PWC to implement a turnaround plan, potentially including a company voluntary arrangement (CVA) to remedy its financial troubles.
Established by Dunkerton in 2003 and with 98 stores across the UK, the Japanese inspired clothing brand has suffered from weak sales.
It blamed too much rain for a 23.5 per cent drop in revenues during the previous half-year period.
With consumer spending hampered by high inflation and financial constraints, retailers like Superdry are competing for limited cash in a competitive market.
Dunkerton, who made headlines in 2019 with his return to Superdry after being ousted, currently holds around 26 per cent of the company’s shares.
City A.M. approached Davidson Kempner and Superdry who both declined to comment. Dunkerton could not be reached but declined to comment to Sky News.
