20 February 2024 , 13:30
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Shares in the fashion chain Superdry have gone up after reports that a US investor is in talks about buying the company.
The New York investment firm Davidson Kempner is in talks with Julian Dunkerton, who started Superdry and is now the boss, about possibly buying the brand. The talks are just at a preliminary stage and there's no guarantee that they'll agree a deal for the business. Superdry have so far declined to comment on the takeover talks.
The company emplous about 3,350 workers worldwide and runs 216 shops as well as franchised stores. The possible takeover comes after Superdry said last month that it's looking at ways to save money.
Cost savings would result in a company restructure which could include closing some stores and cutting jobs. The company is working with advisers at PwC to look at options for the future of the business.
It was confirmed a few days later that Mr Dunkerton, who owns more than a quarter of the business, was talking about a possible takeover deal. Superdry said Mr Dunkerton was "engaged in discussions with potential financing partners".
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He has also reportedly had initial talks with other investment firms Rcapital and Gordon Brothers about possible deals. On Tuesday morning, Superdry shares were 14.7% higher.