The well-known British fashion retailer, Superdry, has revealed final plans in hoping to save the business after hitting a record-low market value of only 5.19p per share.
Superdry had previously been an exceptionally popular clothing store, hitting its peak in 2018/19 with over £800,000,000 being generated through sales and share prices reaching an all-time high at £20 per share. However, since this, the brand has seen a continued decline in demand, particularly having struggled with advertising their products to appeal to younger shoppers.
The rescue plan states that Superdry aims to privatise the company by delisting from the London Stock Exchange, as well as closing 39 of its most underperforming stores across the UK. Th is will result in the restructuring of the company, from it currently being a Public Limited Company to a Private Limited Company. The aim is that through these steps, as well as increased fundraising, they will be able to recover the business and avoid insolvency proceedings.
The plan for Superdry is very uncertain at the moment. However, it is clear that improving the product range and marketing strategies will also be crucial for securing the future of this brand.