// Superdry in advanced talks to raise £15m through a sale of its shares
// The retailer also confirmed it was in “positive” discussions with investors over a 20% equity raise
Superdry is said to be in advanced talks to raise £15m through a sale of its shares as it looks to bolster its balance sheet.
According to Sky News, the cash call could be announced as soon as this week.
The retailer confirmed on Tuesday it was in “positive discussions” with investors over a proposed equity fundraising of up to 20%.
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This is the latest move by the fashion retailer to raise funds and follows the announcement in March it had sold its intellectual property assets of certain Asia Pacific countries to South Korean-based Cowell Fashion Company for £40.7m.
Last week, Superdry said it had successfully amended its borrowing terms with Bantry Bay until the completion of the sale.
In April, the retailer withdrew its “broadly breakeven” full-year profit guidance after disappointing retail sales at the start of the year.
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