Superdry, the London-listed clothing retailer, is weighing a radical restructuring that could involve significant numbers of store closures and job cuts after reporting weak sales.
Sky News has learnt that Superdry and its advisers at PricewaterhouseCoopers (PwC) are initiating work on plans that could lead to a company voluntary arrangement (CVA) or restructuring plan, both of which are insolvency mechanisms enabling businesses to reduce their liabilities to creditors.
This could be aimed at closing underperforming shops – with a commensurate impact on jobs – and forcing through rent cuts with landlords.
Detailed proposals have yet to be worked up, and there was little indication this weekend of how many of the company’s 3,350 staff a…
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