Creditors of struggling British clothing brand have overwhelmingly endorsed the company’s restructuring plan. In a filing to the London Stock Exchange, the retailer said that 99% of the creditors have backed the plan. The gold standard of business intelligence.
Superdry on 16 April 2024, aiming to prevent the company from going into administration. The fashion chain is considering rent reductions at 39 stores in the UK and intends to delist from the London Stock Exchange. The company also announced plans to secure £10m from its founder, Julian Dunkerton.
The restructuring, alongside the delisting, forms part of the broader capital and restructuring measures aimed at safeguarding the company from insolvency. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research.
Gain competitive edge. Your download email will arrive shortly We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form The plan is set to place Superdry on a more secure foundation, expedite its recovery strategy, and guide it towards a sustainable future.
Superdry’s shareholders are scheduled to vote on the proposed equity raise and delisting at a general meeting in Cheltenham on 14 June 2024. The UK’s High Court will then be petitioned to sanction the restructuring plan at a hearing beginning on.
