SUPERDRY has warned it will go bust unless it quits the stock market and pushes through an aggressive plan to cut its rent bills and business rates.Superdry co-founder Julian Dunkerton, blamed the company’s woes on lockdown, Brexit, the end of tourist tax relief and previous managementExisting shareholders will then be stuck, invested in a private company where Mr Dunkerton will have control.
The boss, who founded the business in 2003, told The Sun he believed Superdry’s brand still had a future and it was “one of the last” retailers on the high street to do a restructuring.The debacle marks the downfall of a British brand whose Japanese logo-covered clobber was once worn by a string of A-list stars.Major high street discount chain SOLD in deal affecting more than 300 stores
The firm referred itself to Ofgem when it realised it overcharged 1,699 direct debit customers by £149 by putting them on a higher standard credit rate.A Ream victory