Superdry's Dunkerton in talks with US investor about bid - report

20th Feb 2024 08:10

(Sharecast News) - Prominent US investor Davidson Kempner is reportedly among the parties being courted by Superdry's founder as he assembles an offer to take the struggling fashion chain private.

According to Sky News, Davidson Kempner, which has backed a number of UK retailers, is in discussions with Julian Dunkerton about backing an offer for Superdry.

It was understood the talks are at a preliminary stage and there is no guarantee that Davidson Kempner will ultimately sign an agreement with Dunkerton.

Their discussions add the US investor, which has backed Jojo Maman Bebe and Oak Furnitureland, and previously held a slug of debt in New Look, to a list of firms examining Dunkerton's proposals. Others include Retail Realisation, a firm backed by the founder of turnaround investor Rcapital.

Earlier this month, it emerged that Dunkerton wanted to buy the majority stake in Superdry that he does not already own, even as the company draws up plans to close stores and cut jobs.

Dunkerton, who in 2019 returned to the company having previously been ousted, owns just under 30% of the shares.

At 0810 GMT, the shares were up 19% at 40.12p.