The founder of Superdry has insisted he has no plans to take the fashion firm private ‘at the moment’.
Chief executive Julian Dunkerton sought to dismiss speculation he was mulling a bid for the fashion group he set up in 2003.
The Cheltenham retailer’s share price has taken a pummelling in recent years – falling more than 90 per cent since early 2018, fuelling speculation Dunkerton may wish to buy it.
But Superdry told the stock market: ‘While there has been speculation that he is considering taking Superdry private, he said that there were “no plans to do this at the moment”.’
Shares in the brand, which is known for its hoodies and jackets once flaunted by David Beckham and Idris Elba, rose 4.1 per cent, or 4.8p, to 122.6p.
Mulling a bid? Julian Dunkerton (pictured with his wife Jade Holland Cooper) has dismissed speculation he was mulling a bid for the fashion group
Under takeover rules, the statement means Dunkerton cannot bid for the brand for six months unless there is another offer for the group or an agreement with the board.
Superdry slashed profit guidance for 2023 to break even last week. It made a £17.7million loss before tax in the 26 weeks to October 29.
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