Superdry boss Dunkerton in talks over potential buyout

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Superdry boss and co-founder Julian Dunkerton has held talks with private equity backers with an eye to a potential buyout of the company.

Superdry at Manchester Arndale exterior

Superdry posted a return to profitability in October

Dunkerton has reportedly been looking at a deal that would roll his 21.7% stake in the business he co-founded into a private vehicle, according to The Sunday Times.

A source close to the retailer said Dunkerton was cautious of agreeing any deal that would increase Superdry’s debt at a time when inflation is soaring and the economy is so turbulent.

However, the source also noted that there were no active talks on a take-private deal and no advisers have been appointed.

It comes as the London-listed retailer’s shares plummeted 60% in the year to date to a near-record low, valuing the business at £86m.

This search for new financing comes despite Superdry’s encouraging recovery this year, posting a return to profitability in October.

Superdry also noted an “encouraging start” to its new financial year at the time, particularly around autumn and winter trading.

The fashion retailer operates 740 stores in 61 countries around the world and employs more than 2,500 people in the UK and Ireland.