Big dust-up at Superdry

Firm fights to stop founder’s return

FASHION firm Superdry has gone to war with a founder who is fighting to take back control.

Julian Dunkerton, who left the firm last year, wants to rejoin the board after slamming boss Euan Sutherland’s running of the business.

But Superdry yesterday claimed Dunkerton’s return would be “extremely damaging.”

It also blamed him for last year’s autumn and winter collections flop, claiming he ignored growing trends and focused too much on “legacy” designs.

Dunkerton was brand and product director until he quit last March.

Superdry called his alternative plans on how run the company – rejected by the board in late February – as “flawed” and “imprecise.” A vote on whether to reinstall him will take place on April 2. Dunkerton, backed by fellow founder James Holder, hit out at the firm’s management after it announced last month that quarterly sales had fallen 1.5%, with store takings tumbling 8.5% and even online trade dropping 0.7%.

He called the figures a “damning indictment of Superdry’s misguided strategy”.

The firm’s shares have crashed by 75% since the start of last year, and fell another 1.4% yesterday. Dunkerton still owns 18% of the business and Holder 9.7%, so the collapse has wiped a packet off their stakes.

The pair want Peter Williams, who chairs fashion chain Boohoo, to be made a director.