Superdry hires advisers to cut costs after tough trading periods

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Superdry’s founder and chief executive Julian Dunkerton has hired Interpath Advisory to help aid cost-cutting plans following a prolonged period of tough trading and profit warnings.

The retailer has hired advisers to address its cost base, which could lead to several job losses.

Sources said Interpath’s work was likely to encompass plans for Superdry’s wholesale business and would include working with Bantry Bay, which was the firm responsible for extending financing worth up to £80m to Superdry in December.

A Superdry spokesperson said: “While Superdry has seen strong store and online trading and the brand continues to resonate with consumers, these are challenging market conditions for all brands in the fashion sector.

“We have engaged Interpath to advise us as we work to complete the turnaround of Superdry in today’s much-changed retail environment and ensure we have the right cost base and structure in place for future success.”

Superdry has seen its shares crash by more than a quarter over the last year.

There was previous speculation that Dunkerton could make the company private, though he said last month he had “no plans to do this”.