Sky news is reporting that Superdry is preparing got to an emergency sale process if creditors reject chief executive Julian Dunkerton’s restructuring plan.
If the plan is not approved by creditors in the coming weeks, the brand will run an emergency four-week auction sale to find a new owner.
As part of Superdry’s proposal, Dunkerton would inject £8m in an open offer available to other shareholders or £10m in a placing that would only be accessible to him.
The share sale would take place before the retailer delists from the London Stock Exchange.
Superdry said on Tuesday it expects to close certain stores in the UK as a result of the plan and that it had itentified 25 to 30 European-based stores for closure over the next 12 months.
