Superdry in talks to secure future
Superdry has confirmed it is in talks with a US hedge fund as the business faces an uncertain future if it cannot secure a new lender.
The clothing retailer said last month that there was a "material uncertainty" over the future of its business as a £70 million loan facility is set to expire in January.
Superdry yesterday confirmed a report that it is trying to secure funding from Bantry Bay Capital, which is backed by Usactivistinvestorelliottadvisors. "Superdry acknowledges
recent press speculation about its previously announced refinancing process and confirms that it is in negotiations with Bantry Bay Capital Ltd, the specialist lending provider, to replace the existing up to £70 asset-backed lending facility," the business said.
It added that there was no certainty of an agreement and it would make a further announcement "when appropriate".
"We remain in discussions with other lenders," Superdry said.