Superdry co-founder Julian Dunkerton is reportedly preparing to requisition an extraordinary general meeting (EGM) to ask shareholders to reinstate him as a director.
Dunkerton left Superdry in March, but has since called on the retailer’s shareholders to accept his return after what he called a series of “bad decisions” over the retailer’s strategy made in the past year.
According to Sky News, City sources believe Dunkerton is drawing up plans with his advisers to ask shareholders to vote on his reinstatement.
It’s also thought Dunkerton could look to remove Superdry chairman Peter Bamford and chief executive Euan Sutherland.
Dunkerton owns 18 per cent of the retailer, and told press last week that returning was the “only option” to save Superdry after its second profit warning in less than two months sent shares in the company down 80 per cent below its peak earlier this year.
Now a proxy battle and EGM could be on the cards for the business in the early new year, despite Dunkerton saying previously that he would prefer to avoid one.