×
69 382
Fashion Jobs
CANADA GOOSE
Manager, Marketing Analytics
Permanent · NEW YORK
CROCS
Crocs: Director, Sales
Permanent ·
CROCS
Crocs: Associate Marketing Project Manager
Permanent · BROOMFIELD
URBN
Anthropologie Visual Merchandising Manager
Permanent · SAN JUAN
SACK OFF 5TH
Dvp District Manager, Mid-West (Chicago Based)
Permanent · CHICAGO
SACK OFF 5TH
Dvp District Manager, California
Permanent · LOS ANGELES
SACK OFF 5TH
Dvp District Manager, Northeast (ny, ct, nh, ma)
Permanent · NEW YORK
SACK OFF 5TH
Inventory Control Analyst (Based in ny or nj)
Permanent · NEW YORK
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · DAWSONVILLE
UNDER ARMOUR
Stock Teammate, Part-Time 6am Shift, $15 Per Hour
Permanent · WICHITA
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · BARABOO
UNDER ARMOUR
Stock Teammate, Part-Time 5am-10am Shift, $15 Per Hour
Permanent · ASHEVILLE
UNDER ARMOUR
Stock Teammate, Part-Time, $16 Per Hour
Permanent · TULALIP BAY
UNDER ARMOUR
Stock Teammate, Part-Time 5am Shift, $15 Per Hour
Permanent · LINCOLN CITY
TUMI
Women's Buyer
Permanent · EDISON
NIKE
North America Brand Planning Director, Consumer Direct Marketing And Integrated Media
Permanent · Beaverton
NIKE
Information Strategy Project Manager
Permanent · Beaverton
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - ny 59th st
Permanent · New York
BLOOMINGDALE'S
Asset Protection Detective, Full Time - ny 59th st
Permanent · New York
URBN
Anthropologie Design Director - Furniture
Permanent · PHILADELPHIA
URBN
Anthropologie Design Director - Fabric & Textile Concept
Permanent · PHILADELPHIA
URBN
Free People Associate Merchandise Planner
Permanent · PHILADELPHIA
Published
Nov 28, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Superdry confirms £70m funding talks

Published
Nov 28, 2022

In a brief stock exchange statement on Monday, Superdry confirmed press reports about its funding talks with a company backed by an American hedge fund.


DR



The company said: “Superdry plc acknowledges recent press speculation about its previously announced refinancing process and confirms that it is in negotiations with Bantry Bay Capital Limited, the specialist lending provider, to replace the existing up to £70 million asset-backed lending facility. 

“There can be no certainty that an agreement will be reached, nor as to the terms of any such agreement and we remain in discussions with other lenders. A further announcement will be made as and when appropriate.”

The firm’s statement came after reports that it was talking to the lender — which is a London-based business backed by US hedge fund Elliott Advisors — over the funding that’s needed urgently given that the current deal expires in two months’ time.

Yet the company has remained relatively upbeat and seems confident overall about its improving prospects.

Last month, in reporting a stronger performance and return to profit, the company’s chairman Peter Sjolander had said that the “asset-backed lending facility of up to £70 million is due to expire at the end of January 2023, although current projections suggest the group will remain cash positive throughout most of the first half of the calendar year.”

But he added at the time that “the directors acknowledge that, until these discussions conclude, a material uncertainty exists around the going concern of the group, although we remain confident of a positive outcome.”

It’s been reported that the talks, while they can still break down with no result, are nonetheless as an advanced stage with a positive outcome to be announced perhaps as early as this week.

Superdry currently operates around 740 stores in 61 countries and has a large number of employees globally. It employs over 2,500 people in the UK and Ireland alone.

It has come through a bruising period in recent years, one that was added to by the pandemic. But the strategy under returning CEO Julian Dunkerton seems to be working.

Copyright © 2023 FashionNetwork.com All rights reserved.