Superdry to weigh restructuring, including store closures, job cuts

LONDON – British fashion retailer Superdry is to explore a radical restructuring that could include substantial numbers of store closures and job cuts, Sky News reported on Jan 27.

The Sky News report said Superdry and its advisers at PricewaterhouseCoopers are starting work on plans that could lead to a company voluntary arrangement or restructuring plan.

This could be aimed at closing underperforming shops, which would also have an impact on jobs, but there was little indication of how many of the company’s staff and stores might ultimately be affected.

The Gloucestershire-based firm said on Jan 26 its chief financial officer Shaun Wills will step down at the end of March, naming Mr Giles David as its interim CFO, effective on Jan 29.

The fashion retailer reported a wider half-yearly loss as unusual weather curbed sales amid a cost-of-living crisis. REUTERS

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