Spoke’s Post

Gloucestershire's Superdry delists from London Stock Exchange 👕🪙 Gloucestershire-based fashion retailer Superdry updated the delisting of its shares and said the last day of trading would be on Friday (July 12) and the delisting from the stock market would take effect on 8am on Monday (July 15). The under-pressure Cheltenham company received approval from its creditors, shareholders and the court last month for a turnaround programme to avoid insolvency. The restructuring plan from boss Julian Dunkerton received the support of 99 per cent of creditors which attended and voted at the Plan Meetings held on June 10 this year. In a stock market statement, Superdry said its ordinary shares will be admitted to trading on the JP Jenkins securities matching platform from July 15 this year. Continue reading... https://lnkd.in/eAhE_-ZS #finance #investing #stockexchange #superdry #manufacturing #clothing #fashion #retail #businessnews #businessintelligence

Europe’s Vinted considers up to $500 million secondary share sale at $5 billion valuation, according to a report. The second-hand clothes marketplace began informing its investors about a secondary stock offering this month. Thomas P. #Secondaries #Secondary #SecondaryMarket #AlternativeInvestments #PrivateMarkets #Venture #VentureCapital #VC https://lnkd.in/ej3fF9_a

Can you believe that clothing and footwear companies in Europe opt to destroy their goods rather than rehome?! Well not for much longer! EU policymakers have decided to ban the destruction of textiles and footwear, with some exemptions for small, micro, and medium-sized companies. A new briefing by the European Environment Agency has stated that there are just too many unsold textiles in Europe. Companies need to reduce waste and improve sustainability in the textiles industry by altering production and consumption patterns. #corporatepartnerships #bemore #socialgood

Fashion retailer Superdry will cease trading on the London Stock Exchange later today as part of its restructuring plan. Click the link below to find out what's next for Superdry. #fashion #fashionnews #retailnews

#rodrigozepeda #superdry #exchangelisting #restructuring The United Kingdom (UK) fashion retailer 'Superdry' has proposed delisting from the London Stock Exchange (LSE) to shareholders as part of a new turnaround plan. Chief Executive Officer (CEO), Julian Dunkerton, who holds a 26.4% stake in the firm, believes this is the best option to turn the firm around.   KEY POINTS ◾ When Superdry listed in 2010 it was valued at £395 million, but this has since dwindled down to the latest £5 million market capitalisation. ◾ Superdry's half-year results for the financial period ending October 2023 showed a loss of £17.7 million. It has had only one year of profitability since 2020. ◾ The value of the company's shares has declined by more than 90% over the past year. ◾ The proposed delisting forms part of a package of measures proposed by Superdry to implement a new target operating model that is intended to: 1️⃣ return the firm to a more stable footing; 2️⃣ accelerate the firm's turnaround plan; and 3️⃣ drive the firm towards a viable and sustainable future.  ◾ The package of measures includes: 1️⃣ delisting from the LSE; 2️⃣ equity raise (of up to £10 million); 3️⃣ extending the maturity date of existing debt facilities (held with Bantry Bay and Hilco); 4️⃣ restructuring (i.e., increasing the efficiency) of its UK property estate and retail cost base (e.g., rent reduction on 39 of 94 stores that are underperforming); and 5️⃣ improving product ranges, promotional strategies, and reallocating marketing spend more effectively. ◾ The delisting aims to provide significant annual cost savings, and to enable the firm to implement changes away from heightened public awareness that comes with being a publicly listed company. ◾ Superdry seems to be making the same strategic mistake (in terms of keeping retail stores open) that the Body Shop did, which led to the Body Shop entering administration earlier this year. ◾ If Superdry retains the same management structure that led the firm to this drastic situation in the first place, that does not bode well for the likely long-term success of Superdry's proposed turnaround plan. ARTICLES 🔸 Drapers: https://lnkd.in/eJMFFB46. 🔸 FashionUnited: https://lnkd.in/evSZqxSx. 🔸 FT: https://lnkd.in/euFFhBxu. 🔸 Investment Week: https://lnkd.in/e8uwrX9R. 🔸 SoGlos: https://lnkd.in/ehTKrc_b. If you find my posts interesting or useful please feel free to Follow Me on LinkedIn: https://lnkd.in/esgbeWmy.

Today the UK-listed clothing brand Superdry announced that it has received an approach from its CEO Julian Dunkerton regarding a possible offer without providing a potential price. Superdry is very difficult to value, as it’s running at a loss, so comparison of multiples such as EV/EBITDA can’t be used. Looking at bid premia, there are two recent precedents of offers for listed UK clothing brands that were also loss-making. In 2022 Ted Baker was taken private at a pre-bid speculation premium of just 11%, whilst the smaller Seraphine Group was acquired in 2023 at some 206%. Using Superdry’s unaffected closing price of 21.15p yesterday, applying such premia would give a huge range of between 23.5p and 64.7p. At the time of writing Superdry’s share price was up 114% at 45p, somewhere in the middle. #manda #mergersandacquisitions #londonstockexchange #superdry

The deadline for CEO Julian Dunkerton to submit a bid to take Superdry private has been extended to 29 March. Read more here. #fashion #fashionnews #retail #retailnews #Superdry

In case you missed: PERMIRA PULLS GOLDEN GOOSE IPO The Goose will not lay its golden eggs after all. Golden Goose, known for its $500 customizable sneakers, pulled its IPO on Tuesday, three days before it was due to float on the Milan stock exchange, citing unfavorable market conditions. Everything was ready. The order book was four times oversubscribed – so they said. Controlling shareholder Permira got cold feet. What happened? The official version is “a significant deterioration in market conditions following European Parliament elections this month and the calling of a general election in France impacting European markets performance and, in particular, the luxury sector.” That’s not very credible. Valuations in the luxury sector have been down for many weeks due to poor trading in China and lackluster demand in Europe and the United States. The elections added yet another layer of uncertainty, but investor sentiment towards the fashion and luxury sector did not suddenly collapse, as Golden Goose would like the market to believe. To read more, click here https://lnkd.in/etEWMq6m

Frasers Group throws in the towel 🏳️ It’s sad to admit but over the last few weeks I’ve quite enjoyed watching from the sidelines the constant attempts by Frasers Group to acquire Mulberry England . Frasers obviously saw the value in the British luxury handbag 👜 brand. However Mulberry’s continuous position to decline any bid shows belief in their brand and capability to nurture and build through internal growth and commercial performance. Not through acquisition. We’ve seen in recent times brands like #Topshop be bought and sold by #Asos after a few years of being acquired. Let’s see if the revival with new owners #Bestseller (Jack Jones, Vera Moda) will help gain back its identity whilst solidifying its specific market position & target audience. I wonder now if there’s recognition that organic & steady growth is better long term for a brand - as opposed to being acquired and always at risk of being dumped! #Alexa play Window Shopper by 50 cent. (Get it? 😎) #retailnews #fashionnews #mergers #acquisitions #brandvalue #valuecreation

Superdry's Dunkerton stops takeover talks 👔👀 Julian Dunkerton, co-founder and CEO of Cheltenham-based fashion retailer Superdry has stepped away from a take-over of the business, but remains committed to the company he founded in 2003. In a statement to the London Stock Exchange, the company said that " a takeover offer from Julian Dunkerton for Superdry is unlikely to deliver an outcome for shareholders." However, the business remains in discussion with Mr Dunkerton on "alternative structures". This includes a possible equity raise fully underwritten by him, which would give the company the liquidity to continue the company's turnaround plan. The statement said: "It is expected that any equity raise would be at a very material discount to the current share price ...... and be conditional on a de-listing of the company." Julian Dunkerton said he remains fully committed to the company over the long term. Continue reading... https://lnkd.in/ebD56qXf #CEO #executive #leadership #deals #finance #businessnews #businessintelligence