Superdry, the London-listed clothes retailer, has enlisted one of many large 4 accountancy companies to advise on its funds within the wake of a pre-Christmas revenue warning.
Sky News has learnt that Superdry, based by Julian Dunkerton, has appointed PricewaterhouseCoopers (PwC) to look at its debt-raising choices.
The transfer to herald new City advisers has emerged simply weeks after the style model’s shares sank to a document low after it blamed abnormally delicate autumn climate for weak gross sales.
Its newest revenue warning, issued lower than per week earlier than Christmas, capped a 12 months wherein the corporate took a variety of steps to strengthen its stability sheet.
These included a modest fairness elevate and model licensing offers in Asia-Pacific and India.
Superdry already has sizeable debt amenities obtainable to it, by means of preparations with Hilco and Bantry Bay Capital value a complete of greater than £100m.
On Tuesday, shares in Superdry have been buying and selling at round 29.95p, giving the corporate a market capitalisation of lower than £30m.
There has been persistent hypothesis that Mr Dunkerton, who owns roughly 1 / 4 of Superdry’s shares, would search to take the corporate non-public.
Just below a 12 months in the past, he appointed Interpath Advisory, a restructuring agency, to attract up cost-cutting plans for the enterprise.
Superdry has but to replace on its Christmas buying and selling efficiency, though analysts consider the colder climate might have delivered a lift to gross sales.
A Superdry spokesman declined to touch upon PwC’s appointment.
Source: information.sky.com”