Superdry founder considers buyout

SUPERDRY founder Julian Dunkerton is in talks to take the high street chain private, after its share price collapsed in the face of mounting losses.

The ailing retailer confirmed that Mr Dunkerton, Superdry’s chief executive, was in talks with funding partners over a take-private deal. He has until March 1 to make an offer for the business or stand down.

Superdry said there was no certainty that an offer would be made and it was also working with advisers over cost-saving options.

The announcement caused shares to surge more than 120pc. Mr Dunkerton already owns around 30pc of the company, having increased his holding last year during an equity fundraise. It raises the spectre of another high-profile British company exiting the London Stock Exchange (LSE) after a bumpy ride on the markets. Mr Dunkerton took Superdry public in 2010, with the retailer joining the LSE with a value of £395m. Within a week, the company was worth almost £1bn.

It is now worth just £43m after its share price dived over the past year. Superdry has been battling a slump in demand for its clothes, which it has blamed on unseasonal weather. It has also been racing to strip out costs includ- ing closing some stores.

Mr Dunkerton has long been linked with a potential swoop to take his fashion chain private again, with names including Next and Authentic Brands said to be potentially involved.

Mr Dunkerton started the business in 1985 from a market stall in Cheltenham. The

Telegraph revealed last month that Superdry was in talks to sell its brand rights in the US and Middle East.