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Co-founder and boss of Superdry, Julian Dunkerton has held talks with private equity firms over a potential buyout of the fashion retailer, The Times has reported.
According to the Times, the talks have come after growing disillusioned with its dismal share price performance at the business.
Talks have taken place this year over a potential deal that would involve Dunkerton, who owns 23.9%, rolling his stake into a new private vehicle.
After falling 60% this year, shares in Superdry closed on Friday near a record low, valuing the business at just £86 million.
“Dunkerton thinks it’s super-cheap,” said one source close to the talks told the Times.
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A source said that there were no active talks on a take-private deal and no advisors have been appointed for a potential sale.
Despite the race to find new financing, Superdry’s performance has been positive as it posted a return to profit in October.
The retailer also flagged that it had an “encouraging start” to the new financial year “particularly autumn/winter trading”.
Superdry operates 740 branded stores across 61 countries and employs more than 2,500 people in the UK and Ireland.
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