A new investor has begun stakebuilding in Superdry, leading to takeover discussions around the business intensifying.
First Seagull, a Norwegian alternative investment fund, has snapped up a 5.3% stake in the retailer.
It is thought that the investor considers the fashion retailer to be ripe for a bid following various profit warnings over the last year knocking down its share price.
Authentic Brands Group and Sycamore Partners are also thought to have the clothing company on their radars.
The news led to Superdry’s shares immediately jumping by around a fifth.
Superdry’s value owned by a brand management company would be roughly £400m to £600m, from its current value of around £21m, sources have suggested.
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The brand is believed to have cancelled a meeting with investors yesterday, further fuelling speculation.
Superdry’s share price has plummeted nearly 90% over the past year, according to The Times.
The business is currently working with PwC advisers and is exploring options such as a company voluntary arrangement or other form of restructuring, under a move that could lead to job cuts and store closures.
In January, Superdry boss Julian Dunkerton admitted the retailer was facing a “difficult period” ahead as it posted widening losses and revealed CFO Shaun Wills had quit the business.
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