Yahoo Finance Superdry drafts in PwC to help with debt after profit warning and sales slump
Superdry has drafted in advisors to help explore its debt-raising options, following a profit-warning posted last month by the firm.
The ailing British retailer is said to be in talks with ‘big four’ firm PwC, according to reports in Sky News’ Mark Kleinman,
This comes just one month after it posted a 13 per cent slump in retail sales ahead of Christmas, leading its shares to tumble 16 per cent.
The firm’s board already has a number of sizeable debts through arrangements with Hilco and Bantry Bay Capital worth a total of more than £100m, the outlet said.
Superdry also recently signed a joint venture with Reliance Brands Holding UK Ltd (RBUK) for the sale of its intellectual property in South Asia, for £40m.
It mirrors an agreement announced by Superdry in March to sell the intellectual property of its Asia Pacific offering to South Korean retail group Cowell Fashion Company.
Superdry has 105 stores across the UK, with one flagship location on London’s Oxford Street.
Superdry declined to comment.
