The future of struggling British clothing retailer Superdry Plc remains unclear for now. On Friday, the company said in a statement to the London Stock Exchange that it was giving its co-founder and CEO Julian Dunkerton more time to negotiate with potential backers.
Dunkerton, who is already a major shareholder in the company, announced at the beginning of February the plan to completely acquire Superdry together with financial partners and take it off the stock exchange. He originally had until March 1 to present a solution or end his ambitions. Because the relevant negotiations were still ongoing, he has now been granted an extension until March 29th, the clothing supplier said. At the moment there is “no certainty” whether there will be a takeover offer.
The company, which has been in crisis for years and recently posted high losses, also announced that, regardless of the ongoing negotiations, it was continuing to work on its “turnaround plan” and was still examining various options to reduce costs.