// Superdry hires advisers from Interpath Advisory to address its cost base
// Superdry has seen its shares crash by more than a quarter over the last year
Superdry has hired advisers to produce a cost-cutting plan as it struggles to trade amid rising inflation.
Julian Dunkerton, the retailer‘s founder and CEO, has hired Interpath Advisory to address its cost base, which could lead to a number of job cuts.
Interpath’s work was likely to encompass plans for Superdry’s wholesale business and would include engaging with Bantry Bay, the firm which extended financing worth up to £80m to the retailer in December.
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“While Superdry has seen strong store and online trading and the brand continues to resonate with consumers, these are challenging market conditions for all brands in the fashion sector,” Superdry said.
“We have engaged Interpath to advise us as we work to complete the turnaround of Superdry in today’s much-changed retail environment, and ensure we have the right cost base and structure in place for future success.”
Superdry has seen its shares crash by more than a quarter over the last year.
Dunkerton said last month he had “no plans” to make an offer to take the company private.
