British clothing retailer Superdry Plc is seeking additional funding. The company is “in positive discussions with institutional and other investors” about a possible capital increase of up to twenty percent, Superdry said on Tuesday, thereby confirming previous media reports. CEO Julian Dunkerton plans to make a “significant” contribution to the measure and issue a letter of intent to “demonstrate his confidence in the company’s long-term prospects,” the statement said.
Superdry had already announced a possible capital increase in an interim report in mid-April. In addition to a far-reaching austerity program, the project that has now been confirmed is part of a package of measures with which the company intends to improve its financial situation again. After the most recent disappointing results, the clothing supplier dropped its profit forecast for the current financial year almost three weeks ago.