UK fashion retailer Superdry has warned it could go bust unless it launches a sweeping restructuring plan and said it would delist from the London stock market, sending its shares down by more than a quarter.
The chain is seeking rent reductions on 39 of its about 100 UK stores to be able to stay afloat and secure emergency cash, as it tries to return to a more stable footing. The chain has eight outlets in the Republic and one in the North.
The company said in an update on Tuesday that it was looking to launch an equity raise up to 10 million and said that co-founder and chief executive Julian Dunkerton had committed the full amount. Dunkerton, who owns a 26 per cent stake in the company, last month ruled out making an offer for the ent…
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