Superdry Shares Soar: A-Level Business in the News
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What's the story?
Superdry shares doubled in value after its CEO Julian Dunkerton said he's in talks to take the company private.
Dunkerton has been given permission to discuss potential deals with financing partners.
This could include a cash offer to acquire the entire business.
Talks are preliminary, no decisions made yet, and terms/deal not guaranteed. Superdry still exploring other cost-cutting options to position itself for long-term success.
Dunkerton must announce by March 1st if he intends to make a formal offer. Superdry shares plunged 64% over past year, 91% since 2019, amid weak sales. Revenue fell 23.5% in recent half year results, losses nearly doubled.
Radical restructuring with store closures and job cuts is also under consideration.
Dunkerton owns around 25% of Superdry shares, speculation of a take-private bid persisted.