Superdry in talks with US private equity investor?
Cheltenham-born international fashion retailer Superdry is in talks with a US private equity investor, according to reports from Sky News.
The retailer's suitor is reportedly the owner of Oak Furnitureland, Davidson Kempner, who could take Superdry private.
But Sky News says talks are at a preliminary stage with no guarantee that Davidson Kempner will sign any agreement with founder Julian Dunkerton.
Davidson Kempner Capital Management is a global investment management firm with approximately $37 billion in assets under management. It has previously backed Jojo Maman Bebe and Oak Furnitureland and is reportedly one of a number of companies interested in Superdry, which has been struggling for some months.
In a stock market statement earlier this month, the company confirmed that Dunkerton was "engaged in discussions with potential financing partners (Potential Sponsors) for the purposes of considering options in respect of the company, which may include a possible cash offer for the entire issued and to be issued share capital of the company, not already owned by him".
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He already owns around 26 per cent of the business.
In January, the company responded to press speculation about its future, confirming that it was working with advisors to explore the feasibility of various material cost saving options.
Superdry added that it is set to deliver in excess of £40m in savings this financial year, ahead of the initially stated target of £35 million, with more than £20 million of those savings already achieved in H1.