Superdry’s shares have been temporarily suspended by the Financial Conduct Authority (FCA) as the retailer delayed its full-year results.
The fashion retailer said on Wednesday its annual results were not ready yet and that it had requested the suspension of its ordinary shares of 5 pence each in the interim.
“The board confirms that the delay is a result of normal procedures taking longer than anticipated during the first year that RSM are auditing the company,” Superdry said in a statement.
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It now expects to lift the suspension when it publishes its results before the end of the week.
Superdry, which has struggled to bounce back from the pandemic, withdrew its “broadly breakeven” full-year profit guidance in April as it continued to experience disappointing retail sales.
The retailer has been looking to raise extra cash in a bid to fund its turnaround plan and £35m cost reduction programme.
It secured £25m from restructuring specialist Hilco Capital earlier this month on top of an £11.1m equity raise in May.
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