Superdry is set to delist from the London Stock Exchange today as part of its restructuring strategy.
- The delisting will be effective on 15 July, ending almost 15 years of trading on the exchange.
- Superdry has reminded shareholders that today marks the final day of its public trading on the London Stock Exchange.
- Following the delisting, Peel Hunt will no longer serve as sponsor, financial adviser, or corporate broker for Superdry.
- CEO Julian Dunkerton highlighted that the move would result in significant cost savings and a renewed focus on retail operations.
Superdry, the fashion retailer, is implementing a strategic restructuring plan which involves delisting from the London Stock Exchange. This action will formally take effect on 15 July, concluding nearly 15 years of the company’s presence on the exchange since its £400 million flotation.
As part of the restructuring, Superdry alerted its shareholders that today marks the last opportunity for public trading on the London Stock Exchange. The termination of this relationship signifies a pivotal shift in the company’s approach to its operations and financial strategy.
Importantly, the investment bank Peel Hunt will cease its role as Superdry’s sponsor, financial adviser, and corporate broker post-delisting. This termination is a direct consequence of the company’s strategic redirection.
CEO Julian Dunkerton, who maintains a 26.4% ownership stake and established Superdry in 2003, emphasised that the decision to delist is financially motivated. Dunkerton stated that this move will “save Superdry a lot of money” and allow him to “focus on retailing”. Such strategic financial decisions are crucial in aiding the company’s goal to stabilise and enhance its retail operations.
Moreover, the restructuring strategy encompasses rent reductions on under-performing stores and plans for an equity raise of up to £10 million. These measures are intended to streamline operations and provide Superdry with the necessary resources to focus on their core retail business.
Superdry’s delisting represents a significant shift in its business strategy, aiming to streamline operations and renew retail focus.
